Swiss franc ticks lower

30 Jan, 2004

The Swiss franc eased against the greenback on Thursday after the Federal Reserve held interest rates steady on Wednesday but hinted it may be closer to considering a rate increase. The dollar edged higher to 1.2574/79 francs from levels around 1.2465 francs in late European trade on Wednesday. The euro lost some ground against the franc and changed hands at 1.5650/52, from around 1.5695 on Wednesday.
Traders said they would eye remarks by Swiss National Bank Chairman Jean-Pierre Roth later on Thursday, who is expected to repeat the central bank is in no rush to raise rates from current record lows as it waits for a tentative recovery to take root.

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