2010.07.0709:19:00UTC+00Swiss Franc Mixed Against Majors

In European session on Wednesday, the Swiss franc exhibited mixed trading against other major currencies. The franc rose to a 6-day high against the pound and extended its uptrend against the euro. Meanwhile, the franc recouped from a 6-day low against the yen.

Against the British currency, the Swiss franc advanced during European session on Wednesday. At 7:45 am ET, the franc traded at a 6-day high of 1.5991 against the pound, compared to yesterday's close of 1.6056. If the franc gains further, it may target around the 1.596 level. Currently, the franc is trading at 1.5993 against the pound.

The Swiss franc that fell to a 6-day low of 81.91 versus the yen at 4:40 am ET reversed its direction thereafter. As of now, the franc is trading at 82.41 against the yen and this level may be compared to yesterday's closing quote of 82.61.

The franc has been extending its uptrend against the euro during Wednesday's European deals. At present, the franc is worth 1.3317 against the euro, compared to 1.3375 hit at yesterday's close.

Germany's seasonally adjusted factory orders fell in May for the first time in five months, data released by the Federal Ministry of Economics and Technology showed today

Factory orders fell 0.5% month-on-month in May. It followed 3.2% growth in April, which was revised up from 2.8% growth initially reported. The decline in May was unexpected as economists were looking for a 0.3% rise

In a separate report, European Union statistical office Eurostat today confirmed 0.2% sequential growth in Eurozone gross domestic product in the first quarter of this year. It followed 0.1% rise in the fourth quarter of last year. The economy expanded 0.6% annually in the first three months of 2010, after shrinking 2.1% in the previous three-month period.

The franc recovered its recent losses against the U.S .dollar during European deals on Wednesday. Currently, the franc is worth 1.0585 against the greenback, from 1.0640 hit in early European session.

There are no market moving data slated for release from the U.S. today.

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