Swiss Franc Surges on Strong GDP and Inflation Data

The Swiss Franc (CHF) saw a significant bounce on Thursday after hitting its monthly high of 0.8156 against the US Dollar (USD) on Wednesday.

This recovery was driven by better-than-expected GDP and inflation data from Switzerland, which showed that the economy grew at its fastest pace in five years in Q2 with a 1.9% increase.

The year-over-year growth rate jumped to 2.8%, exceeding market consensus of 1.6%. Additionally, consumer prices rose 0.4% in August from July's 0.1% contraction, beating expectations of a flat reading and posting the fastest growth in two years.