Wednesday, June 27, 2007

Swiss Franc Mixed Against Major Counterparts Wednesday, Wednesday, June 27, 2007 12:47:14 PM

The Swiss franc exhibited mixed results versus its major counterparts Wednesday in New York. The Swiss currency moved higher against the sterling but fell versus the yen. Meanwhile, the franc was mostly choppy in trading with the greenback and euro. Swiss currency traders considered data showing that the KOF leading indicator came in below expectations in June.

The Swiss franc was largely uncertain against the greenback Wednesday in New York. At 12:28 pm ET, the Swiss currency traded at a mark of 1.2284 against its American counterpart. That is compared to an intraday high of 1.2273 at 8:30 am and an intraday low of 1.2304 at 6:20 am. Greenback traders considered the drop in U.S. durable goods orders in May.

Versus the euro, the Swiss franc was mostly choppy Wednesday in New York. At 12:34 pm ET, the franc fetched a mark of 1.6510 against its European counterpart. This is compared to an intraday high of 1.6488 at 2:30 am and an intraday low of 1.6528 at 6:20 am.

The Swiss franc ticked higher against the sterling Wednesday in New York. The Swiss currency advanced during the early morning, reaching an intraday high of 2.4487 at 2:30 am ET. The franc pulled back from some of its gains during the mid-morning before largely leveling off around 9 am. At 12:38 pm, the Swiss currency traded at a mark of 2.4533 against its British counterpart.

Against the yen, the Swiss franc retreated Wednesday in New York. The Swiss franc slipped over the course of most of the morning, reaching an intraday low of 99.45 at 9 am ET. The Swiss currency rebounded from some of its losses to fetch a mark of 99.71 at 12:40 pm. Investors considered data showing that Japanese retail sales gained in May for the first time in eight months.

Swiss KOF leading indicator came in at 1.98 in June, the KOF Swiss Economic Institute said Wednesday. Economists expected a reading of 2.06. The indicator reading for May stood at 1.94, revised down from 1.96 initially estimated. The reading for April was revised to 1.89 from 1.90. The barometer indicates acceleration in GDP growth during the second half of this year.
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