16 July 2004, 10:12 Swiss franc down vs dollar, US inflation data eyed
The Swiss franc eased against the greenback in early trade on Friday after upbeat economic data from the world's biggest economy and ahead of keenly awaited U.S. inflation figures for June.
The dollar last changed hands at 1.2343/47 Swiss francs compared with levels around 1.2336/42 late on Thursday in Europe. The greenback gained on a surprisingly strong survey of U.S. business conditions on Thursday.
The euro was trading around 1.5262/74 francs, versus levels of around 1.5268/73.
Trading was expected to be subdued ahead of the U.S. consumer price index report at 1430 GMT and an economic testimony next week from Fed Chairman Alan Greenspan.
Fears of accelerating inflation abated after the June U.S. Producer Price Index dipped slightly for the first decline since November.
Market players are also keeping an eye on Swiss producer and import prices in June, scheduled for release at 0715 GMT.
Given high oil prices, economists expect a slight uptick in prices, however they pointed out there was little danger for consumer price inflation.
|||
© 1999-2024 Forex EuroClub
All rights reserved