Swiss franc steady

05 Jul, 2006

The Swiss franc was little changed against the euro and dollar on Tuesday, taking in its stride strong euro zone and Swiss data from the previous session.
On Monday the euro zone manufacturing index for June showed its best reading in six years, while the same index in Switzerland hit a three-month high, its 16th straight month of growth, supporting views of further rate rises ahead in both currency zones.
The franc traded at 1.5676 per euro, little changed from the previous close of 1.5668. The Swiss franc has lost around 1 percent since mid-June, when it touched a three-week high against the single currency at 1.5495 per euro. The franc traded at 1.2238 per dollar, also unchanged on the day, but close to a three-week high touched on Friday, amidst broader-based dollar weakness.

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