Weakening CHF

The Swiss franc is experiencing a weakening across the board. Since the day began, it has lost to all major currencies. Why? As those major currencies point toward more rate hikes, the spread between the Swiss rate and those will stay the same. With last Friday's PPI showing no change, the probability that the Swiss bank will increase by more than 25 basis points to narrow the gap is small. The GBP/CHF posted the largest gains of the day so far with close to a 200 pip move in the pair.