Swiss Currency Mostly Strong Friday [USD/CHF]
4/11/2008 8:42:14 AM The Swiss currency was strong against its American and European counterparts in trading on Friday morning in New York. The franc, meanwhile, saw little direction against the yen. The currency traded with little economic news from the area.

The franc rose steadily against its American counterpart on Friday morning. The advance took the currency past parity to 0.9994 by 8:40AM EST. The pair moved as March Import Prices rose at a stronger than expected 2.8% month over month versus the consensus of 2%. The year over year gain is 14.8%, the fastest pace going back to at least 1983. At 10:00 am ET, data on consumer sentiment from the first two weeks of April will be made public. Analysts expect sentiment, which is already to come in at 69.0 following March`s reading of 69.5.

In trading against the British currency on Friday, the Swiss franc saw strength into the morning action. The steady advance brought the franc to a mark of 1.9700 as trading progressed. On the whole, the franc remains near a multi-year high against the sterling.

The Swiss franc was mixed against the yen on Friday morning. The currency bounced between a high of 101.58 and a low of 101.04. The franc remains near its highest mark against the yen since mid July.

The Swiss currency rose against its European counterpart in trading on Friday morning. The franc advanced to a mark of 1.5806 steadily in the morning action. The pair moved as German wholesale prices rose faster than expected in March. A report from the Federal Statistical Office showed Friday that the wholesale price index climbed 7.1% year-on-year in March. Economists were looking for a rise of 6%.

Share and Enjoy: These icons link to social bookmarking sites where readers can share and discover new web pages.
  • bodytext
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google