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USD/CHF slides to 2015 lows as SECO boosts Swiss economic forecast
The USD/CHF price is hovering near its lowest level since February 2015 as traders react to the robust economic forecast from Switzerland. This decline is also because of the overall weaker US dollar. It is trading at 0.8857, which is 10 percent lower than this year’s high of 0.9900. In a report released earlier today, the State Secretariat for Economic Affairs (SECO) said that the economy will likely drop by 3.3%, an improvement from the previous estimate of 3.8% decline. This will be the worst contraction since 1975. SECO cited the second wave of the virus as the main reason for the general contraction of the ... (full story)