Friday, May 25, 2007

Franc Varied Among Major Counterparts Early New York Trading Friday, Friday, May 25, 2007 4:00:41 AM

The Swiss franc showed mixed performance during early New York trading on Friday. The franc reflected strength against the dollar and the yen, but moved down against the euro and the franc in the European session. However, lately, the Swiss currency has been bouncing back against the European counterparts.

The early deals were largely influenced by the German GfK consumer confidence data, which was released at 2:10 am ET.

The US dollar saw directionless trading versus the Swiss franc during the very early deals on Friday in New York. The pair moved between 1.2279 and 1.2294 during this time, but the Swiss currency gained momentum lately. As of 3:55 am ET, the pair was quoted at 1.2270.

The Swiss currency held steady against the Euro during the very early New York trading on Friday. At about 1:45 am ET, ahead of the German data, the euro gained ground against the alpine currency, and the pair strengthened to 1.6508 by about 2:30 am. However, the franc reversed the losses thereafter, and the pair was equal to 1.6485 at 3:55 am ET.

The British currency moved sideways against the Swiss currency until the pair gained ground at about 1:55 am ET, early New York trading, Friday. Moving out of the range, the pair collected as high as 2.4417 at about 2:50 am, and thereafter, the franc rebounded against the cable. As of 3:55 am ET, the pair traded at 2.4368.

The Swiss franc rallied against the Japanese yen early New York trading on Friday. The upward trend helped the pair to reverse its losses suffered in late trading on the previous day occurred amid the release of the Japanese inflation data. Climbing from 98.53, the pair fetched 98.91 at 3:55 am ET.
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