Swiss Currency Mostly Weak Friday [USD/CHF]
4/18/2008 8:35:13 AM The franc was weak against its American and European counterparts in trading on Friday morning in New York. The currency, meanwhile, was choppy against the yen. The Swiss franc moved with little economic news from the area.

The Swiss currency fell against the dollar in Friday morning action. The decline brought the franc to a mark of 1.0230 against the currency as trading progressed. In general, the franc remains near a multi-year high against its American counterpart.

Versus the euro, the Swiss franc saw weakness into the mid morning action on Friday. The franc fell to 1.6140 as trading progressed. The currencies moved as German producer price inflation increased more than expected in March. The Federal Statistical Office announced that producer price annual inflation accelerated to 4.2% in March from 3.8% in February.

The franc fell against its British counterpart on Friday. The currency dropped to a mark of 2.0396 into the mid morning action. The currencies traded as UK gross mortgage lending increased 5% month-on-month in March. However, mortgage lending declined nearly 17% from the prior year. Gross lending increased to an estimated GBP26.3 billion in March, up from GBP25 billion in February.

The Swiss currency was choppy in trading against its Japanese counterpart on Friday. The franc bounced between a high of 101.98 and a low of 101.26. The pair moved as it was reported that the Japanese economic growth was slowing recently due to higher energy and material prices. According to a report that summarized information from nine regions of Japan, some regional differences in economic growth continued to exist.

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