Tuesday, May 29, 2007

Swiss Franc Remains Strong Against Counterparts On Tuesday Afternoon, Tuesday, May 29, 2007 1:22:26 PM

The Swiss currency rose against its world counterparts in trading on Tuesday in New York. The franc saw strength as the Swiss UBS Consumption Indicator data was released.

The Swiss franc saw strength against its European counterpart. The advance took the currency to a mark of 1.6484 by the mid-afternoon action. On the whole, the Swiss currency is close to a weekly high against the euro.

In trading with the dollar, the Swiss franc saw some strength. By the mid-morning, the franc had risen to a mark of 1.2230 and remained at that level into the afternoon. In general, the Swiss currency is at a two week high versus the American currency.

Against the British pound, the Swiss franc showed strength in the afternoon. The currency had climbed to a mark of 2.4234 as trading progressed. The Swiss franc is at a week and a half high against its British counterpart.

The Swiss currency rose against the yen in trading. As the action progressed in the mid-afternoon, the franc held onto its gains to move near a mark of 99.36. Overall, the Swiss franc is at a multi-year high against the Japanese currency.

Swiss consumer spending retained its solid pace of growth in April. The UBS Consumption Indicator continued its upward trend in April as it rose to a level of 2.35 points. This marks the highest point since July 2001. Markets were looking for an April reading of 2.20.
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