The Swiss franc was flat against the euro and the dollar on Thursday, but rallied to a high in more than two-week against a falling yen amid talk of Japanese retail investor outflows. The Swiss currency did not move after a fall by 17.6 percent in real terms in the Swiss trade balance for April.
The franc was flat against the euro compared with late New York trading at 1.5114 per euro. Analysts noted that the Swiss National Bank (SNB), which has intervened to stem a rise in the franc and said many times it was ready to do it again, had recently gone quiet.
"Approaching the SNB's quarterly Monetary Policy Assessment in mid-June the number of SNB comments declined substantially without having a big negative impact on euro/Swiss," said UBS analyst Reto Huenerwadel. "It is the changing attitude vis-a-vis the euro that drives the cross on this trajectory." The Swiss currency was also near flat at 1.0923 against the dollar. Against the yen, the franc was up 1.6 percent at 88.57 yen, hovering close to its highest since May 11.
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