Quotes from Western Union:
- The Swiss franc weakened as markets shrugged off faster than expected growth last quarter. The Alpine economy grew 0.6 percent in the fourth quarter compared to forecasts of 0.3 percent from an upwardly revised 0.7 percent in the third quarter.
- Prospects for first quarter growth look decidedly less rosy, however, after Swiss authorities yanked the cap off the franc against the euro which resulted in out-sized franc appreciation, a negative for an economy whose exports serve as a critical growth engine.
