12 November 2004, 10:28  Swiss franc marginally firmer against the dollar

The Swiss franc was marginally firmer against the dollar in early trade on Friday, as the greenback gave up some of its gains made on Wednesday after the U.S. Federal Reserve raised interest rates. The dollar last traded at 1.1760/64 francs, compared to levels around 1.1771/75 late on Thursday. The euro changed hands at 1.5192/95 francs against 1.5179/85. On Wednesday, the U.S. Federal Reserve raised interest rates a quarter percentage point to 2 percent, citing healthier job markets, and indicated it would press on with a rate-rise campaign. In Switzerland the national bank will decide on whether to raise interest rates again in December. Market participants are now bracing for Friday's significant U.S. data calendar which contains October retail sales, due at 1330 GMT, and the University of Michigan Sentiment survey.////

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