The Swiss franc hovered around fresh eight-year highs against the dollar on Monday, as dealers shrugged off upbeat US jobs data, focusing instead on worries about bloated deficits in the United States. The dollar fell to a low of 1.1760 francs in early trade, despite Friday's data showing a surprising increase in the number of new US jobs created in October.
The encouraging data took a back seat to concerns about the US twin deficits, which have been key drivers of dollar weakness.
The US budget deficit is about $427 billion, or 3.7 percent of gross domestic product, while the current account hit a record $166.18 billion shortfall in the second quarter.
The dollar last traded at 1.1776/82 francs, compared to levels around 1.1838/43 francs late on Friday.
The euro changed hands at 1.5276/83 francs against 1.5290/95 francs. The US currency has also dropped to record lows against the single European currency, with the euro reaching new record peaks around $1.2985 early on Monday.
A weak dollar can help US corporate profits by making American-made goods cheaper overseas, but a prolonged slide in the greenback makes US assets less appealing to international investors because it erodes their returns.
In Switzerland traders will keep an eye on employment data for October.
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