2008.12.3108:10:00UTC+00Swiss franc drops to multi-day lows against most majors

The Swiss currency declined further against most majors in early trading on Wednesday. The franc fell to a 5-day low of 1.0689 against the greenback and 84.72 against the Japanese yen by 7:50 am ET. The franc also dropped to a 2-day low of 1.5595 against the pound by this time. Currently, the alpine currency is quoted at 1.0678 against the dollar, 84.81 against the yen and 1.5578 versus the pound with downside target levels of 1.093, 84.2 and 1.785, respectively.

Investors now look forward to the New York session, in which the US Labor Department is due to release its customary weekly jobless claims report for the week ended December 27th at 8:30 am ET.

Jobless claims rose 30,000 to 586,000 in the week ended December 20th from an upwardly revised figure of 556,000 for the previous week. Economists had expected jobless claims to edge up to 558,000 from the 554,000 originally reported for the previous week.

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