The Swiss franc climbed to its highest value against the American dollar since February on Friday after data on manufacturing sector activity in the United States showed deteriorating conditions seemingly fueling concerns about an economic slowdown.
The Swiss currency continued to strengthen after data showed that the annual inflation rate in the country stood steady at 1.3% in July, which appeared to lower the chances of another rate cut by the Swiss National Bank (SNB) next month.
The Swiss franc rose 0.28% against the greenback, changing hands at 1.14869 at 11:53 am CET.
