The Swiss franc ticked down against the euro on Tuesday but the currencies remained stuck in a range as markets are wary of further interventions from the Swiss National Bank. The franc fell 0.1 percent against the euro compared to the New York close, trading at 1.5122 per euro. The franc was slightly firmer against the dollar at 1.1129 per dollar.
The Swiss central bank intervened to weaken the franc against the euro on March 12, when it announced a set of drastic steps to boost the economy and fend off deflation. The franc has risen again since, coming within a hair's breadth of 1.50 per euro, a level which many analysts see as the pain threshold for the SNB.
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