ND: US Dollar Rises To 4-day High Against Swiss Franc
Recouping its early European session's losses, the US dollar advanced to a 4-day high of 1.0344 against the Swiss franc by 8:35 am ET Friday after the report showed that US durable goods orders unexpectedly decreased in August. The dollar-franc pair that closed yesterday's deals at 1.0297 is presently quoted at 1.0321. The next upside target for the pair is likely to be seen around the 1.036 level.
According to a report released by the Commerce Department, orders for durable goods fell 2.4 percent in August following a revised 4.8 percent increase in July. The decrease surprised economists, who had expected orders to edge up 0.4 percent compared to the 5.1 percent increase that had been reported for the previous month.
Excluding a 9.3 percent decline in orders for transportation equipment, durable goods orders were nearly unchanged in August compared to a revised 0.9 percent increase in the previous month.
