The Swiss franc weakened against the euro, pound and the dollar in early deals on Thursday, but advanced to a 2-day high against the yen due to across the board weakening of the latter.

The Swiss franc advanced against the Japanese yen in early dealings and rose to 87.63 by about 5:00 am ET. The next upside target level for the Swiss currency is seen around 87.7. The franc-yen pair closed yesterday's deals at 87.03.

The Bank of Japan said today that corporate service prices in Japan were down 2.6 percent on year in February, posting an index score of 92.1. On a monthly basis, corporate service process inched higher by 0.2 percent.

The domestic corporate goods price index was down 1.1 percent on year, the data showed, showing an index score of 105.0. On month, CGPI was off 0.4 percent.

At about 6:35 am ET, the Swiss currency hit as low as 1.1276 against the US dollar and 1.6431 against the pound, compared to Wednesday's closing values of 1.1215 and 1.6324, respectively. If the Swiss franc slides further, 1.13 is seen as the next likely target level against the dollar and 1.66 level against the UK currency.

The Office for National Statistics said UK retail sales dropped 1.9% in February from the previous month, while economists were expecting a monthly 0.4% decrease.

From the previous year, retail sales volume rose 0.4% in February, which was the lowest growth since September 1995. Annual growth stood below 2.5% increase expected by economists.

Across the Atlantic, the US fourth quarter GDP, weekly initial jobless and continuing claims are slated for release at 8:30 am ET, today.

Later in the day, Fed's Jeffrey M. Lacker, Richard W. Fisher, Timothy F.Geithner and Gary Stern are expected to deliver speeches.

Reversing early gains, the Swiss franc started ticking down against the European currency by about 5:15 am ET. The franc thus moved from 1.5208 to a 2-day low of 1.5300 by about 6:35 am ET. At yesterday's North American session close, the euro-franc pair was quoted at 1.5232.

The report released at 3:10 am ET showed that in Germany, the overall consumer morale is set to show a slight deterioration in April despite too many negative reports regarding economic development. Further changes in consumer climate over the months ahead remain dependent on labor market situations.

The overall consumer confidence index is forecasting a value of 2.4 points for April, down from a revised 2.5 points reported in March, a survey conducted by the GfK market research group showed Thursday. Economists were expecting a reading of 2.5 for April.

For comments and feedback: contact