The Swiss franc made steady ground against the dollar on Friday but slipped slightly against the euro following a resilient showing against both currencies on Thursday in spite of SNB noises aied at softening the franc. The franc dropped 0.1 percent against the euro compared to the New York close, trading at 1.5188 per euro. The franc was 0.5 percent firmer against the dollar at 1.0831 per dollar.
On Thursday SNB board member Thomas Jordan said the bank would continue to intervene on an ad-hoc basis to prevent the Swiss franc from rising, as part of its massive quantitative easing. However, in the immediate aftermath of Jordan's speech the Swiss currency remained firm, gaining ground against both the dollar and the euro in the latter part of Thursday's session. Risk aversion was a key factor underpinning franc strength after weak non-farm payroll numbers from the US depressed equities markets, analysts say.
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