The Swiss franc was flat against the euro and the dollar on Monday, despite indications of strong Swiss business sentiment on Friday and data showing the US economy growing slower than expected. The franc was flat against the US currency, trading at 1.2315 per dollar. Against the euro, the franc was also flat at 1.5723 per euro.
"The US dollar should come under slight pressure versus the Swiss franc, against the backdrop of the economic data that we expect to see emanating from America, and tread toward the USD/CHF 1.23 mark in the course of the week," analysts from Credit Suisse said in a note.
The dollar was trading lower against all major currencies late last week after data showing US gross domestic product grew at a 2.5 percent annual pace in April-June, below the forecast for 3.0 percent and slowing from the 5.6 percent in the first quarter.
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