The Swiss franc weakened vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.1080 level and was supported around the CHF 1.1025 level. Technically, the pair continues to orbit the CHF 1.1060 level, representing the 38.2% retracement of the move from CHF 1.1595 to CHF 1.0730. Data released in Switzerland today saw January CPI up 2.4% y/y and off 0.3% m/m. Also, KOF reported it sees economic growth decelerating in H1 2008. U.S. dollar offers are cited around the CHF 1.1155 level. The euro and British pound moved higher vis-à-vis the Swiss franc as the crosses tested offers around the CHF 1.6030 and CHF 2.1580 levels, respectively.