13 April 2004, 10:24  Swiss franc steady vs dollar, Iraq eyed

The Swiss franc was stable against the dollar early on Tuesday, little changed from levels seen during the extended Easter weekend, with dealers focused on the worsening situation in Iraq and U.S. economic data. The dollar was a shade higher at 1.2833/38 Swiss francs compared with 1.2812/17 francs late on Thursday in Europe ahead of the four-day Easter break. The euro was trading at 1.5486/90 france versus 1.5501/06 on Thursday. Dealers were watching for March retail sales data due from the United States later on Tuesday with a stronger-than-expected figure likely to lift the greenback. The dollar has been bouyed in recent sessions by strong U.S. jobs market growth. Attention was also turned on the volatile situation in Iraq, with reports of further foreigners kidnapped following some of the bloodiest violence since the fall of Saddam Hussein a year ago. The Swiss franc tends to rise at times of geopolitical tension due to its status as a perceived safe-haven currency.///

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