(RTTNews) - The Swiss franc continued its declining trend against major currencies in early Monday New York deals as risk-appetite increased in the market following the consumer income and spending in the U.S. both increased in July.
According to figures released Monday by the Commerce Department, personal income rose 0.3 percent or $42.4 billion in July, while revised June figures showed a bigger than initially reported 0.2 percent increase in income. Initial figures had reported a 0.1 percent increase in June. The increase in personal income came in line with economist estimates.
Additionally, consumer spending surged up in July, rising by 0.8 percent in July, the largest increase since August 2009. Economists had been expecting spending to increase by 0.5 percent.
The Swiss franc is presently trading at a fresh 3-month low of 93.72 against the yen, 7-week low of 1.1897 against the euro and fresh 5-week lows of 0.8189 against the US dollar and 1.3441 against the pound.
