The Swiss franc softened against the greenback in early Monday trading after surprisingly strong U.S. jobs data on Friday reignited expectations of a U.S. interest rate hike. The dollar traded at 1.3056/60 francs, compared to levels around 1.2978/83 on Friday. The euro eased to 1.5457/62 francs, compared with 1.5483/88.
Non-farm payrolls rose by 288,000 in April, compared with a forecast of 173,000 by economists. The employment figures are seen as key to the timing and pace of a U.S. rate hike, which would support the dollar by making U.S. assets more attractive. Similar factors nudged the Swiss franc higher against the euro after strong Swiss jobs data on Friday. The unemployment rate fell to 3.9 percent in April from 4.1 percent in March and compared with 4.0 percent expected by analysts. Swiss National Bank directorate member Philipp Hildebrand said Swiss interest rates will rise from current record lows when the economic recovery picks up speed, although there was currently enough excess capacity in the economy to accommodate the SNB's "extraordinarily expansive" policy.///

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