Swiss GDP and UBS consumption Indicator were released earlier today. Gross Domestic Product was released at 0.3 for the first quarter of 2011, weaker than previoud release of 0.8% and reasonably lower than the expectations of 0.6%.
UBS consumer sentiment declined from 1.69 to 1.59 in April.
Shortly after the news that Swiss economy is growing slower than expected, USD/CHF made a dive to the current 0.8497 from trading at 0.8537 before the news release. EUR/CHF also dropped from 1.2279 to 1.2251.
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