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Swiss Franc Retreats Against Most Majors

The Swiss franc trimmed its early gains against most major counterparts in early European deals on Tuesday.

The franc reversed from an early high of 113.67 against the yen, edging down to 113.40.

The franc that advanced to 4-day highs of 0.9137 against the greenback and 1.5155 against the pound earlier eased to 0.9159 and 1.5184, respectively.

The franc may possibly face support around 0.92 against the greenback, 1.524 against the pound and 113.00 against the yen.

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A busy week for economics saw the release of first quarter growth figures for the U.S. economy and the interest rate decision in Japan. Read our stories to find out why the GDP data damped market sentiment in the U.S. and what were the signals given out by the Bank of Japan. Other news this week included new home sales data and jobless claims figures from the U.S., and the latest purchasing managers' survey results for the Eurozone.

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