Franc at Record vs. Dollar on Bad US Economic Reports
The Swiss franc jumped to the record versus the US dollar after the macroeconomic data suggested that the economic growth in the US slowed.
The Federal Reserve Bank of Philadelphia index of the manufacturing conditions slumped from 43.4 in March to 18.5 in April. The US jobless claims decreased to 403,000 last week, while analysts expected a decrease to 394,000.
USD/CHF fell from 0.8879 to 0.8818 today as of 15:06 GMT after it reached earlier the record low of 0.8779.
If you have any questions, comments or opinions regarding the Swiss Franc, feel free to post them using the commentary form below.
Tags
Federal Reserve Bank of Philadelphia, Franc, Jobless Claims, Manufacturing, Switzerland, United States, USD/CHF
Categories
Earlier News About the Swiss Franc:
- Franc Gains vs. Euro, Drops vs. Yen & Dollar on Safety Demand (2011-04-18)
- Swiss Franc Gains on Japan's Woes (2011-04-12)
- Swiss Franc Boosted by Surge of Inflation (2011-04-07)
- Swiss Franc Depreciates as Global Economy Looks Good (2011-03-25)
- Swiss Franc Gains as Radiation Leaks Out of Japan's Nuclear Plant (2011-03-23)