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The Swiss franc slipped slightly on Friday against the dollar as the greenback recovered from a one-year low hit on Thursday as investors covered their positions, but was flat against the euro. The franc was down 0.3 percent against the dollar compared to the New York close, trading at 1.0309 per dollar as traders trimmed positions ahead of holidays in Japan and Singapore next week.
The franc had hit a fresh one-year high against the dollar around 1.0271 on Thursday after the Swiss National Bank stuck to its full set of drastic measures to support the economy and as the US dollar sunk across the board.
The USD has come under pressure in recent sessions as investors' are encouraged by hopes of an economic recovery, diminishing its appeal as a safe investment. The franc briefly fell against the euro to a session high of 1.5232 after the SNB renewed its pledge to act "decisively" to prevent any strengthening of the currency against the euro.

Copyright Reuters, 2009

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