RTTN: Swiss Franc Shows Mixed Trading Against Majors
(RTTNews) - During early European deals on Monday, the franc showed mixed trading against other major currencies. The franc pared recent gains against the yen and the dollar, but rose to a new multi-week high versus the pound. Meanwhile, the franc traded in a tight range against the 16-nation European currency.
The Swiss retail sales for December and the jobless rate for January released today likely influenced the franc.
Swiss retail sales grew 4.7% year-on-year in December, data released by the Federal Statistical Office showed. Month-on-month, retail sales rose a seasonally adjusted 3.1% in December.
Switzerland's unadjusted jobless rate rose to 4.5% in January from 4.4% in December, the State Secretariat for Economic Affairs said. Economists had forecast a rate of 4.6%.
The currency of Switzerland pared its recent gains against the Japanese yen. The franc hit a low of 83.34 at 4:50 am ET, moving down from a high of 83.71 hit earlier. The current quote for the franc-yen pair is 83.50, compared to Friday's New York session close of 83.23.
The franc pared its recent gains against the U.S. dollar. As of now, the greenback-franc pair is trading at 1.0724 and the pair closed Friday's New York session at 1.0739.
The franc rose to a new multi-week high of 1.6700 against the pound at 5:05 am ET. The pound-franc pair is now worth 1.6706, compared to Friday's New York session close of 1.675.
Against the euro, the franc traded in a tight range between 1.4661 and 1.4695. Presently, the euro-franc pair is worth 1.4686 and the pair was worth 1.4670 at Friday's New York session close.
There are no significant economic reports slated for release from the U.S. today.
