Swiss franc hovers near two-month low following inflation data

Swiss franc fell in European trade for  a second session against dollar, almost hitting two-month lows following Swiss inflation data. 

Such data showed consumer prices slowed down in May for the third month in a row as pressures ease off on Swiss National Bank's policymakers. 

The dollar rose 0.4% against Swiss franc to 0.9120, with a session-low at 0.9074, after closing down 0.4% on Friday, resuming losses and recovering from two-month lows at 0.9148. 

Swiss Inflation

Swiss consumer prices rose 2.2% in May, slowing down from 2.6% in the precious reading, above estimates of 2.1%. ‏

Such data reduced inflationary pressures on SNB's policymakers and hurt chances of a 0.5% rate hike at the June meeting. 

Swiss Rates

Swiss interest rates remain around 1.5%, the highest since 2008, almost the last amongst the major central banks worldwide. 

The Dollar

The dollar index rose 0.3% on Monday for yet another session against a basket of major rivals.

Following mixed US labor data, it's now unlikely for the Federal Reserve to raise interest rates this month, but it's highly likely it'll do so in July.