The Swiss franc rose early on Friday as the dollar showed weakness against major currencies across the board, while data supported a picture of a healthy Swiss economy. The franc has also gained this week from a warning by the country's top central banker Jean-Pierre Roth, who said on Wednesday that monetary policy might need tightening if the weak franc stoked inflation.
"We expect the uncertainty regarding to (the dollar) to prevail and have lowered our medium target to 1.12 (franc per dollar) by the second quarter of 2008," UBS economist Reto Huenerwadel said in a note. The franc was 0.3 percent stronger against the dollar at 1.1658 franc per dollar.
Against the euro, the franc was roughly 0.1 percent stronger, changing hands for 1.6688 franc per euro, moving off to record lows around 1.6828 per euro hit against the single currency last week.
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