The Swiss franc gained against the dollar in early European trade on Friday, as the greenback edged lower against major currencies following a week of gains on expectations for higher US interest rates.
The dollar has climbed in recent sessions on continued expectations for more interest rate rises in the coming months after clear signals from the US Federal Reserve that it would tighten credit conditions to ward off inflation.
US inflation data for September, due at 1230 GMT, could reinforce expectations that more rate rises are on the cards.
The dollar last traded at 1.2884/87 Swiss francs, down from 1.2984/89 francs in late trading in Europe on Thursday. The euro stood at 1.5503/08 francs, compared to 1.5500/05 francs on Thursday.
Economists polled by Reuters have, on average, forecast a 0.9 percent month-on-month rise in the US September CPI, compared with a 0.5 percent increase in August.
Comments
Comments are closed.