2008.12.3005:43:00UTC+00Swiss Franc Shows Strength Against Dollar And Pound

In early trading on Tuesday, the franc advanced against the currencies of US and UK as Switzerland's current account surplus increased in the third quarter.

The Swiss National Bank said the current account surplus increased to CHF 15.2 billion in the third quarter from CHF 6.3 billion in the prior quarter. However, the surplus stood below the CHF 15.7 billion surplus logged in the same quarter of prior year.

At about 5:40 am ET, the franc traded at 1.0491 against the dollar and 1.5243 against the pound, compared to yesterday's close of 1.0608 and 1.5285, respectively. If the franc climbs further, it may likely target 1.037 against the dollar and 1.513 against the pound.

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