The Swiss franc gained on the US dollar in early European trade on Wednesday, ahead of a Swiss rate decision and after data showed the US current account deficit ballooned to a new record in the second quarter.
The dollar traded at 1.2596/2601 francs, compared with 1.2563/66 in European trading late on Tuesday, while the euro last changed hands at 1.5420/25 francs, compared to around 1.5428/32.
The Swiss National Bank gives its quarterly review of monetary policy on Thursday.