The Swiss franc lost ground to the dollar in early trade on Tuesday, ahead of US Fed Chairman Alan Greenspan's twice-yearly report to Congress which will be closely watched for clues as to future interest rates.
However, the Swiss currency was a touch firmer against the single European currency as markets awaited the release of the closely-watched ZEW survey from Germany which is expected to reinforce doubts about the strength of Germany's recovery. Swiss trade data for June failed to have any market impact, despite exports rising a particularly strong real 13.9 percent year-on-year. Imports were also healthy, posting a 19 percent increase.
The dollar last changed hands at 1.2287/91 francs compared with levels around 1.2300/02 late on Monday in Europe.
The euro was trading around 1.5290/94 francs, little changed from levels around 1.5270/75.
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