Counter currency flows seems to have been the main driver overall, but the euro did come out net positive for the week, likely on improving economic updates and growing optimism as Europe opens the economy back up.
European Headlines and Economic data
The Swiss Franc
Swiss Headlines and Economic data
There were no major headlines / data from Switzerland other than the latest unemployment update (Swiss unemployment rate fell from 3.4% in May 2020 to 3.2% in June) which was a non-catalyst for franc price action.
Price action in Swiss franc pairs was also very mixed and choppy, suggesting counter currency influences were the biggest drivers for the franc this week.
Global risk sentiment was less of a factor than usual, evidenced by Thursday’s strong turn in risk sentiment towards negative but no uniform move higher in the franc against the major risk currencies.