Swiss Franc Falls on Outlook for US GDP & Ireland’s Bailout

The Swiss franc dropped today against the euro as the optimism about the possible bailout for Ireland decreased demand for the safe currencies. The franc declined, after it earlier advanced, versus the US dollar on the speculation that the US GDP in the third quarter rose more than previously estimated.
The analysts say that the US gross domestic product expanded 2.3 percent in the third quarter of 2010, while according to the previous estimates the growth was by 2.0 percent. Currently the Swiss currency attempts to regain its strength, bolstered by the speculation that China may cool its economy.
USD/CHF traded near its opening level of 0.9958 as of 13:50 GMT today after it earlier dropped to 0.9875. EUR/CHF climbed from 1.3584 to 1.3615, following the previous decline to 1.3536.

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