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- EU focus: Swiss Franc gains on safety demand; Euro rises after PPI report
EU focus: Swiss Franc gains on safety demand; Euro rises after PPI report
The Swiss franc strengthened against the dollar as oil prices rose above $100 a barrel for a second day amid unrest in North Africa and the Middle East, fueling demand for the currency as a haven.
The euro rose versus the dollar and yen after a report showed European producer-price inflation accelerated more than economists estimated in January.
Factory-gate prices in the euro region jumped 6.1% from a year earlier, after increasing 5.3% in December, the European Union’s statistics office said today. That’s the fastest since September 2008 and more than the 5.7% gain forecast by economists before the report.
Libyan rebels braced for renewed clashes with forces loyal to leader Muammar Qaddafi and Al Arabiya television reported Iranian protesters fought with security forces. New Zealand’s dollar fell to the lowest level this year after Prime Minister John Key said he expected a cut in the nation’s benchmark rate.
The focis is on the US data now. US data starts at 1315GMT with the ADP National Employment Report.
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