Festering doubts concerning the strength of the recovery in major advanced economies such as the US, Japan and the UK are contributing to further strength in the impregnable Swiss franc. Indeed, the Swiss economy continues to deliver positive surprises, as was reaffirmed yesterday. The latest SVME PMI was much stronger than expected last month at 59.2, up from 58.4 in the previous month. Swiss manufacturers continue to benefit from strong global demand with both orders and employment recording elevated readings. In addition, retail sales jumped by 7.5% in the year ended April, an increase of more than 7% in real terms. Guest post by FXPro Given the continued strength of the currency, these figures are truly remarkable. Already this year The Swiss franc has jumped by a further 11% against both the dollar and the Japanese yen. With the economy still in good shape, and the central bank concerned that prolonged low interest rates will artificially boost credit demand, it is looking increasingly likely that the SNB will tighten monetary policy soon, quite possibly within the next few weeks. It will need to consider the ramifications of the tightening of financial conditions which the stronger currency represents before deciding to tighten. That said the economy has shown an extraordinary ability to cope with the strong exchange rate over the past couple of years. Right now, it is difficult to see why the Swissie will not remain in favour. The economy seems healthy with the strong currency helping to thwart concern about rising inflation. Other major currencies such as the dollar and sterling have been deliberately debased and no longer seem quite as sound in terms of representing stores of value, and the euro is bedevilled by sovereign debt worries. It remains the best of times for the Swiss currency. Michael Derks, Chief Strategist FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Opinions share Read Next GBP/USD Recovers in Range as Construction PMI Doesn’t Disappoint Yohay Elam 12 years Festering doubts concerning the strength of the recovery in major advanced economies such as the US, Japan and the UK are contributing to further strength in the impregnable Swiss franc. Indeed, the Swiss economy continues to deliver positive surprises, as was reaffirmed yesterday. The latest SVME PMI was much stronger than expected last month at 59.2, up from 58.4 in the previous month. Swiss manufacturers continue to benefit from strong global demand with both orders and employment recording elevated readings. In addition, retail sales jumped by 7.5% in the year ended April, an increase of more than 7% in real… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.