The Swiss franc gained slightly against the US dollar in early European trade on Thursday with attention turned on the Swiss National Bank's quarterly policy review later in the session when rates are expected to rise.
The dollar traded at 1.2692/96 francs, compared with 1.2675/80 in European trading late on Wednesday, while the euro last changed hands at 1.5423/27 francs, compared to around 1.5430/34.
The Swiss National Bank gives its quarterly review of monetary policy at around 1400 (1200 GMT) on Thursday.
Economists expect a quarter percentage point rise in interest rates, the second such rise this year, after the SNB was the first among its European and US counterparts to start reining in borrowing costs from ultra-low levels back in June.
Another 25 basis point rate rise with likely follow in December, analysts say, as the SNB pushes interest rates up from current historical lows in-line with the economic recovery.
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