The Swiss franc appreciated vis-Ã -vis the U.S. dollar today as the greenback tested bids around the CHF 0.9870 level and was capped around the CHF 0.9990 level. Technically, todayâ€™s intraday high was right around the 23.6% retracement of the move from CHF 1.1105 to CHF 0.9645. The Swiss government today raised its 2008 inflation forecast to 1.7% from 1.6% and reduced its 2009 GDP growth forecast to 1.5% from 1.7%. U.S. dollar offers are cited around the CHF 1.0375 level. The euro and British pound weakened vis-Ã -vis the Swiss franc as the crosses tested bids around the CHF 1.5665 and CHF 1.9650 levels, respectively.
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