The Swiss franc tread water against the dollar and euro in early Friday trading after Swiss data indicated on Thursday the economy is slowly recovering from a double-dip recession with no sign of inflation pressures.
The dollar traded at 1.2410/15 francs from 1.2413/18 late on Thursday, while the euro traded at 1.5763/68 francs after 1.5768/73.
"At this stage there is simply very little evidence that the trend for a weaker dollar is about to change," UBS said in its daily markets note after a brief revival in the greenback from around multiyear lows earlier this week.
Markets have sold the dollar amid doubts over the United States' ability to attract sufficient overseas inflows to offset a ballooning US current account deficit while US benchmark interest rates remain at the lowest level since 1958.
The continuing firmer trend of the euro, the currency of Switzerland's main trading partner, against the Swiss franc has been widely welcomed by industry as it makes their products more price competitive.