The Swiss currency showed mixed performance against other major currencies during early New York trading on Tuesday. The franc fell against the dollar and the yen but gained ground against the euro and the pound.
In economic news, Switzerland's Federal Customs Administration said the nation's trade surplus accounted for CHF1.442 billion in September, compared with CHF1.441 billion surplus in August. Economists had expected a surplus of CHF1.2 billion.
On an annual basis, real exports rose 4.8% and imports recorded a 7.2% increase. In nominal terms, exports were up 7.1%, while imports climbed 9.9%. During the first nine months of the year, the trade surplus was CHF15.044 billion. In the same period, exports grew only 0.7% on an annual basis in real terms, while imports recorded 3.3% increase.
The Swiss currency slipped to a new multi-month low of 1.1557 against the US dollar by 8:00 am ET, compared to yesterday's close of 1.1498. The pair attempted to reverse direction and is currently trading at 1.1538. If the franc falls further, the near term downside target level is seen around 1.1605.
The US dollar got a boost from Federal Reserve Chairman Ben Bernanke's testimony before Congress yesterday endorsing more government spending to stimulate the U.S. economy, even if such a move could worsen the already huge U.S. budget deficit and weigh on the dollar long-term.
Bernanke's focus on the problems facing the broader economy comes a week ahead of the FOMC's October meeting. The Fed is widely expected to cut the key interest rate, and in his testimony Bernanke gave no indication to expect otherwise. As he has in other recent public appearances, the Fed chief emphasized the risk of a further economic slowdown, while noting that inflation has moderated.
The Swiss currency also edged lower against the Japanese yen in early New York deals on Tuesday. Extending early trading sessions' downtrend, the franc dropped to a 5-day low of 87.44 against the yen by 8:10 am ET. The franc-yen pair, which closed yesterday's New York session at 88.64 is currently worth 87.63.
The franc, however, advanced against the euro and the sterling on Tuesday morning in early New York.
The Swiss franc rose to a 4-day high of 1.5208 against the euro by 8:30 am ET, compared to yesterday's closing value of 1.5342. The franc rallied against the euro due to across the board weakening of the latter. The pair is currently worth 1.5215.
In another move designed to promote lending and prop up struggling financial firms, the French government said it would inject €10.5 billion, or $14 billion, into France's six largest banks, including BNP Paribas (BNP.L).
The franc also rallied against the pound today due to across the board falling of the latter. The franc touched to a 4-day high of 1.9555 against the sterling around 7:30 am ET and leveled off thereafter in early New York. As of now, the pair is worth 1.9627.
Falling demand and a sharp decline in production of manufactured goods has resulted in the sharpest single quarter fall in manufacturing confidence for 28 years, the latest quarterly industrial trends survey by the Confederation of British Industry's, or CBI, said.
The balance of manufacturers reporting a rise in new orders and those saying a decline stood at minus 30. This signaled the fastest quarterly fall in total new orders since January 1999. The survey found 16% of manufacturers said an increase in new orders, while 46% responded they had fallen.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.