23 November 2004, 09:40  Swiss franc softens against the dollar, euro

The Swiss franc fell against the dollar in early trade on Tuesday, as the greenback recovered somewhat from the onslaught of recent selling which had knocked it to a nine year low against the franc. The dollar had come under pressure last week after US Federal Reserve Chairman Alan Greenspan suggested a softer dollar may be needed to help cut the US current account deficit. A weaker dollar, which makes Swiss exports more expensive, weakens a key pillar of the country's economy, which has been recovering on the back of strong export growth.

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