Swiss franc loses ground

The Swiss franc slipped slightly against the euro and lost significant ground against the dollar on Thursday, with trading driven by a rise in risk aversion and speculation over possible Swiss National Bank intervention. Traders will look to Purchasing Managers' Index data, for further signs of strength in the Swiss economy that could maintain pressure on the Swiss National Bank to keep on intervening to keep a lid on the currency.
In a Reuters survey of seven analysts, average expectations were for the PMI to rise to 51.5 in September from 50.2 in August. The franc was 0.1 percent lower against the euro compared to the New York close, trading at 1.5174 francs per euro. The franc fell 0.6 percent against the dollar at 1.0417 francs per dollar.