Swiss Franc Mixed Versus Major Counterparts, Friday, June 15, 2007 9:32:32 AM

The Swiss franc experienced mixed results against its major counterparts Friday morning in New York. The Swiss currency advanced against the greenback and yen. Meanwhile, the franc fell to a nearly four-week low against the euro while also losing ground versus the sterling. Traders considered data showing that Swiss retail sales grew on year in April.

The Swiss franc gained ground versus the greenback Friday morning in New York. The Swiss currency was mostly uncertain through the early-to-mid morning before advancing just after 7 am ET. At 9:15 am, the franc fetched an intraday high of 1.2429 against its American counterpart. This compares to an intraday low of 1.2447 at 2:20 am. Greenback traders mulled data showing that the American CPI was higher-than-expected in May, but that the core consumer prices increased less-than-expected.

Against the euro, the Swiss franc retreated Friday morning in New York. After the early-to-mid morning was marked by mostly choppy trading, the franc began to slide at 8:20 am ET. At 9:21 am, the Swiss currency had fallen to nearly one-month low of 1.6606. This is compared to an intraday high of 1.6564 at 4:20 am. Traders considered data showing that the Euro Zone trade surplus declined to EUR 1.8 billion in April.

The Swiss franc fell versus the sterling Friday morning in New York. The morning was marked by uncertainty until the Swiss currency began a decline around 8:30 am ET. At 9:20 am, the franc slid to an intraday low of 2.4571. This is compared to an intraday high of 2.4502 at 4:10 am.

Versus the yen, the Swiss franc advanced Friday morning in New York. After choppy early morning trading, the Swiss currency began to gain ground at 3 am ET. The franc moved higher through much of the mid-morning, reaching a mark of 99.26 at 9:27 am. This is compared to an intraday high of 99.32 at 9:10 am and intraday low of 98.71 at 1 am. Traders considered the Bank of Japan`s decision to leave its key overnight call rate unchanged at 0.5% for the fifth consecutive time. The decision was in line with market expectation.

Swiss retail sales grew real 3.2% on year in April, the statistical office said Friday. Economists were looking for an annual growth of 5.5%. In nominal terms, retail sales advanced 2.4%. Retail sales of clothing and shoes increased 6.3% and food, beverages and tobacco sales climbed 1.9%.

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