USD

The U.S. dollar fell against most majors on Friday after China once again made a call for a single reserve currency that would be an alternative to the Dollar. 

Improving appetite for risk also played a part in the retreat from the Dollar. A US government data release on Friday showed a spike in personal income for May and a jump in consumer spending, which accounts for over 70 percent of the country’s economic activity.  

In another report, consumer confidence rose in June to its highest levels since February of 2008, as expectations grew that the worst economic recession since the Great Depression may be ending.

The Dollar closed at 95.16 to the Japanese Yen, down .81%, down .95% to the British Pound to 1.6523, down .2% to the Canadian Dollar to 1.1524, down .7% to the Australian Dollar to .8078 and down .5% to the Euro 1.4055.

CHF

Forex online Traders were cautious when trading the Franc after news of more currency intervention by the Swiss National Bank in an effort to weaken the Franc’s recent surge against the Dollar and Euro. 

Switzerland is an export driven economy and a rise in valuation for the CHF could damage trade further.  Data on Friday showed the Swiss Economic Institute’s economic barometer had risen to negative 1.65 points for the month of June. 

The rise was the first one in nearly two years and came in better than the negative 1.76 that was anticipated.

At the close, the Franc was up 1.05% to the US Dollar to 1.0834 and up .53% to the Euro to 1.5232.  The Franc was also up .04%, a slight gain, to the British Pound to 1.7904 and up .14% to the Japanese Yen to 87.82.