The Swiss franc eased on the dollar in early Monday trade as the greeenback regained some strength after Friday's fall on news the U.S. current account gap widened more than expected in the first quarter. The U.S. currency traded at 1.2450/55 francs, up slightly from 1.2430/35 late on Friday in Europe. The euro firmed to 1.5093/97 francs from 1.5072/76. Last week, the franc was boosted by the Swiss central bank's surprise interest rate rise -- the first tightening in four years -- as a double-dip economic downturn ended. The Swiss National Bank lifted its key rate target band by a quarter percentage point, paving the way for more tightening steps later this year.
Data on Swiss industrial orders -- an indicator of future industrial production -- are scheduled for release at 0715 GMT and expected to confirm the upward trend in the economy. The SNB has pointed out that its policy would remain expansionary for now, supporting an economic upswing while keeping the attractiveness of the franc low. It has been eager to keep a lid on the franc's value as a stronger currency tends to hurt Swiss exporters, the backbone of the country's economy.///