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  • Nov 8th, 2005
  • Comments Off on Swiss franc trading near 3 1/2-month lows
The Swiss franc fell against the dollar as soft jobs data in the United States failed to dampen expectations that US interest rates would continue to rise.

Data released late on Friday showed that the US economy created 56,000 jobs in October, below the median forecast in a Reuters survey for an increase of 100,000.

But traders said until the Federal Reserve signals otherwise, and until the cost of borrowing in other markets starts rising, prospects for evnen higher US rates will keep supporting the dollar.

The dollar last traded at 1.3069/71 Swiss francs, near three-and-a-half month highs, from 1.3058/63 in late trading in Europe on Friday. The euro stood at 1.5435/41 francs from 1.5435/40 francs.

Domestically, the Swiss unemployment rate inched up to a non-seasonally adjusted 3.7 percent in October from 3.6 percent in the previous month, the State Secretariat for Economic Affairs said on Monday.

Copyright Reuters, 2005


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