Early trade in New York: Swiss franc soars to record highs

The Swiss franc hit record highs versus the euro and dollar on Thursday and looked set to extend gains as lower US bond yields and concern about the eurozone debt crisis prompted investors to seek safety in the Swiss currency. The dollar weakened broadly, hitting a seven-week low against the yen and a 28-year low against the Australian dollar after a surprisingly strong Treasury auction on Wednesday put pressure on government bond yields.

Dollar slides in New York

The dollar hit a seven-week low against the yen and dropped versus the euro on Wednesday, as US government bond yields tumbled following a solid debt auction, diminishing the appeal of the greenback. Rising global stock prices on expectations of stronger economic growth in 2011 also lifted investors' appetite for higher-yielding currencies and pressured the safe-haven US dollar, analysts said.

Dollar withers to new lows in Asia

The dollar weakened broadly on Thursday, hitting a seven-week low against the yen and a 28-year low against the Australian currency as traders took falls in US bond yields as a cue to sell it. US Treasury prices recovered on Wednesday, pushing yields sharply lower, after a $29 billion auction of seven-year notes drew surprisingly strong demand a day after a weak five-year sale.

Swissie climbs to record high

The Swiss franc hit record highs versus the euro and the dollar on Thursday, bolstered by its safe-haven status and lower US bond yields in thin year-end trade that exaggerated price swings. The dollar weakened broadly, hitting a seven-week low against the yen and a 28-year low against the Australian dollar as traders took the falls in US bond yields as a cue to sell.

Sterling falls against euro

Sterling fell to a seven-week low against the euro on Thursday, hitting a two-month trough on a trade-weighted basis, with traders citing year-end clearer selling while thin liquidity exaggerated price movements. A 1 percent drop against the euro in very low volume pushed the pound down across the board, taking it to a near two-year low versus the yen, an all-time low against the Swiss franc and a multi-year low against the New Zealand dollar.

Swiss franc hits fresh all-time high

The Swiss franc hit a fresh all-time high against the dollar on Thursday as traders took falls in US bond yields, which erode the return on US assets, as a cue to sell the greenback. The franc, which has attracted funds escaping eurozone debt problems, also traded within reach of a recent peak versus the euro as investors continue to prefer the solid Swiss economy to the potentially unstable eurozone.

IMF sees slow growth in 2011 for rich nations

A two-speed global recovery will extend into 2011, with developed countries growing slowly while emerging-market economies power ahead, the International Monetary Fund''s chief economist predicted on Thursday. In an interview with the lender''s online magazine, IMF Survey, Olivier Blanchard said the necessity for countries to rebalance their economies by letting exchange rates adjust more freely while taking steps to control debt remains vital.