Swiss Franc Slides To Dollar And Yen, Uncertain To Rest Of Majors; Small Morning Thursday Hours, Thursday, April 19, 2007 4:15:46 AM
During the small morning hours on Thursday, the Swiss currency lost ground versus the US dollar and the Japanese Yen. On the other hand, the Franc largely showed an uncertain trend against the Euro and the Cable. The German March PPI data released during the session helped the Franc to strengthen slightly, but the pair bounced back soon after. The Swiss ZEW survey data for April is slated for 5:00 am ET.The US dollar traded slightly higher versus the Swiss Franc in the late hours on Wednesday. At about 10:45 pm ET, the pair made a steep fall and touched as low as 1.2001 within about an hour. Soon after, the dollar bounced back most of its losses and collected a high of 1.2045 by about 2:45 am ET Thursday. Lately the dollar is weakening slightly and fetched 1.2031 Francs as of 4:13 am Eastern Time.
On late Wednesday in New York, the European currency showed weakness against its Swiss counterpart. At about 11:45 pm ET, the euro followed a sideways movement and extended the same trend until the German March PPI data was released at 2:00 am ET Thursday. Following the release, the euro lost ground and hit a low of 1.6321 at about 2:40 am ET and then gained a few pips. As of 4:13 am Eastern Time, a Euro traded at 1.6332 Francs.
The British currency trended lower against the Swiss Franc on late Wednesday in New York. At about 12:25 am ET Thursday, the Cable strengthened slightly and then showed an uncertain trend. However, the pair edged lower again at about 2:00 am ET and fetched as low as 2.4042 within about an hour. The Cable then made a few advances and it was quoted at 2.4090 Francs as of 4:13 am Eastern Time.
Against the Yen, the Swiss currency ticked down during late Wednesday and this was ahead and amid the release of the Japanese economic data. At about 10:50 pm ET, off 97.91 the pair traded slightly higher and then showed an uncertain trend. The Franc lost ground again at about 2:10 am ET Thursday and touched a low of 97.73 within a few minutes. The pair gained some momentum thereafter and as of 4:13 am Eastern Time, a Franc collected 97.86 Yen.
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posted by Kalin Tasev @ 3:20 AM
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