The Swiss franc continued to rise against the dollar in early trade on Wednesday ahead of key US inflation data that might shed light on future interest rate policy in the world's biggest economy.
A newspaper report saying that Swiss National Bank board member Philipp Hildebrand didn't see an overheating of the Swiss economy failed to make a lasting impression on the markets.
Swiss newspaper Le Temps also reported that Hildebrand didn't consider neither credit growth nor real estate prices a reason to worry, without directly quoting him. The franc was up 0.1 percent against the dollar, trading at 1.2671 per dollar, slowly advancing from the near six-month lows it had marked end of last week.
On Tuesday, mixed data left the dollar broadly lower in the US session as dealers lightened long dollar positions ahead of more key inflation data due later on Wednesday.
Waning expectations of an interest rate cut in the US had helped the dollar gain ground against major currencies in recent weeks. Against the euro, the franc was virtually unchanged at 1.5901 per euro.
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