The Swiss franc was flat on Monday against the euro and slightly firmer against the dollar with few major near-term drivers seen moving it out of its current trading band. The franc was flat against the euro compared to the New York close, trading at 1.5166 per euro.
"There are no real current drivers. I see it trending sideways between 1.51 and 1.525 against the euro," said Patrick Schaffner from Basler Kantonalbank. The franc was 0.1 percent higher against the dollar at 1.0172 per dollar, but off the 15-month high hit last Thursday at 1.0114 amid a broad sell-off of the low-yielding dollar.
The publication of the Swiss National Bank monthly statistics report, including foreign currency holdings, on Wednesday might yield more information about recent central bank intervention to prevent the franc appreciating too much.
Markets assume that the SNB intervened to weaken the franc against the euro on September 30 when the currency pair fell below 1.5080.
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