The Swiss franc edged higher against the dollar on Friday following Thursday's comments by the Swiss National Bank that the Swiss economy was still strong and that any slowdown would be gradual. "The momentum of the economy is still very strong," SNB Chairman Jean-Pierre Roth told Reuters on Thursday.
"We expect a slowdown but this is not a fast development. It will happen gradually." The franc was 0.2 percent higher against the dollar compared to the New York close at 1.0047. The franc was steady against the euro at 1.6008. Separately on Thursday, new data showed that Swiss shoppers had ratcheted up spending in February, bolstering hopes that robust consumption will keep the economy growing amid a global slowdown.
Comments
Comments are closed.