Swiss franc hovers near seven-week low

21 Jun, 2006

The Swiss franc changed hands near a two-week low against the euro and close to a seven-week low against the dollar early on Tuesday ahead of a string of data this week, including trade and core inflation data for May.
The franc traded at 1.5602 per euro and at 1.2408 per dollar, virtually unchanged on the day. Investors await trade data for May, which is scheduled for Thursday and the combined producer and import prices (PPI) index for May, which is due to be published on Friday.
According to the mean of a Reuters poll of six economists the May PPI is expected to rise 0.1 percent month-on-month and 2.4 percent year-on-year. The trade balance is seen at 1.2 billion francs. The data is expected to underline the health of the Swiss economy after Swiss industrial orders soared in the first quarter of the year, according to data showed on Monday.

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