Swiss franc dips versus dollar

The Swiss franc ticked down against the dollar as investors started to regain some confidence in the US economic outlook and the pressured greenback."We are seeing a bottoming phase of the dollar," said Sandro Baechli, analyst at Clariden Leu. "Some confidence in the US economy and in the dollar is slowly returning."
The franc fell 0.3 percent against the dollar to 1.0058 per dollar, well off the record high at 0.9637 per dollar hit in March. Many economists see the US economy in a recession triggered by the subprime crisis and slump in the housing market, but some are spotting first glimmers of hope.