Greenback falls to 1-week low versus Swiss franc

The US dollar fell to a weekly low of 1.0888 against the Swiss franc on Thursday morning in New York. This may be compared to yesterday's close of 1.0993. Currently, the dollar-franc pair is trading at 1.09.

The latest economic report from U.S. showed that jobless claims fell to 432,000 from the previous week's revised figure of 445,000. Economists had expected jobless claims to fall to 438,000 from the 450,000 originally reported for the previous week.

Traders also weighed early morning reports that the Swiss producer and import prices rose 4.9% year-on-year in July, faster than 4.5% increase recorded in June due to rising oil and metal prices. This for the second consecutive month, the producer and import price annual growth is exceeding 4%. Economists had expected prices to rise 4.6%.

At the same time, the Swiss trade surplus remained almost unchanged at CHF2.37 billion in July, the Federal Administration of Customs announced today. Economists had expected the surplus to fall to CHF2 billion in July. Copyright(c) 2008 RealTimeTraders.com, Inc. All Rights Reserved