The Swiss franc hovered around its lowest level in 14 months against the US dollar in early trade on Tuesday, as the greenback was lent broad support by strong manufacturing data out a day earlier. The dollar hit fresh 14-month highs against the Swiss franc on Monday, and was at a 13-month high against the euro, as strong US manufacturing data led investors to bet that the Federal Reserve is likely to continue tightening credit costs.
The dollar changed hands at 1.3025/29 Swiss francs, from 1.3022/25 francs in late trading in Europe on Monday. It briefly stood at its 14-month high against the franc at 1.3042 francs on Tuesday, roughly the same as Monday's peak.