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The Swiss franc was stronger against the dollar, but flat versus the euro in early trade on Tuesday ahead of a speech by SNB head Jean-Pierre Roth later in the day on the international currency regime. The franc was 0.18 percent stronger against the US currency at 1.2422 per dollar.
Against the euro, the franc was 0.03 percent lower at 1.5935 per euro, just above a 6-1/2-year low of 1.5983 per euro hit last week as low Swiss interest rates made the franc a funding currency for carry trades.
SNB board members have stepped up their verbal support for the franc recently pointing to strong economic fundamentals and possible inflation threats from a weaker franc. The franc was down 0.31 percent against the Japanese currency, at 94.61 per yen.

Copyright Reuters, 2006

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