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  • Aug 27th, 2004
  • Comments Off on Swiss franc ticks lower versus dollar
The Swiss franc lost ground to the dollar in early trading on Thursday as the US currency rebounded from a sell-off following disappointing economic data during the previous session and weak Swiss data weighed.

The dollar was trading at 1.2756/61 francs, compared with around 1.2717 late in Europe on Wednesday. The euro last changed hands at 1.5384/89 francs, compared to around 1.5395.

The US currency had come under pressure in the previous session after a mixed bag of economic data on US durable goods orders and worse-than-expected new home sales cast a further shadow over the prospects for the US economy.

In Switzerland, the franc was also pressured by a disappointing performance from the KOF leading indicator, reported on Wednesday, which points to the expected performance of the Swiss economy in six to nine months' time.

Copyright Reuters, 2004


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