26 January 2004, 09:54  Swiss franc mixed ahead of data, Roth speech

ZURICH, Jan 26 - The Swiss franc eased on the dollar early on Monday and firmed slightly on the euro with the market looking ahead to fresh Swiss economic data later this week and any reaction from the Swiss National Bank. The dollar firmed to 1.2432/37 francs from 1.2383/88 late on Friday, while the euro eased to 1.5632/36 francs after 1.5657/62. Switzerland's leading indicator, signalling economic trends 6-9 months ahead, is due on Wednesday and expected to confirm that in December, the dollar's recent weakness had not interrupted the economy's recovery from a double-dip recession. SNB chief Jean-Pierre Roth speaks on Thursday on "Have we returned to the path of growth?" and is expected to reiterate the central bank is not in a rush to tighten monetary policy given a mild inflation outlook. Last week, Roth declined to comment specifically on recent forex developments as the greenback hovered just above 76-month lows against the franc. Roth then said improving growth in the United States and Asia created very favourable conditions for an upturn in Europe and Switzerland. However, he noted the weakness of the dollar was a negative factor for the economy.//

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