Swiss Franc Recovers From Lows Against Dollar And Pound, Friday, May 30, 2008 3:31:35 PM
The Swiss franc rose versus its major counterparts on Friday in New York, pulling up from early lows versus the sterling and the greenback.The Swiss franc rebounded from an 11-day low against the dollar on Friday. After easing to 1.0526 by 3:30 am ET, the franc rose to 1.0424 in the afternoon.
Investors digested a US consumer sentiment index for May being unexpectedly raised upward and a report showing personal income and spending rose as expected in April.
Against the euro, the franc climbed away from Thursday`s 9-day low on Friday. The franc advanced to 1.6206 just before 3:00 pm ET, up from 1.6288 in the early morning.
Traders considered two reports showing Italian consumer prices rose more than expected in May.
Versus the pound on Friday, the franc recovered from a 3 1/2-week low. After slumping to 2.0783 around 3:30 am ET, the franc rallied to 2.0639 in the mid-afternoon.
Investors mulled the Swiss May KOF leading index falling in line with expectations.
posted by Kalin Tasev @ 11:17 AM
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