The Swiss franc lost ground against the dollar in early trading on Friday, as the US currency continued to rebound from two-month lows earlier in the week, boosted by positive business conditions data.
The dollar hit a two-month low against the franc and a seven-month low against the euro on Wednesday as oil prices hit fresh all-time highs.
However, market analysts said the negative dollar sentiment looked to have been overdone as the currency rebounded from its troughs, lifted by the Philadelphia Fed's index of business conditions which showed a pickup in factory activity in April.
The dollar traded at 1.2808/12 francs early on Friday, up from 1.2779/84 francs late on Thursday in Europe. The euro was trading at around 1.5730/34 francs, compared with 1.5745/50 francs in the previous session.
"The Swiss franc lost again slightly against euro as well as the dollar," forex analysts at UBS wrote in a daily bulletin, arguing that technical factors were influencing trade in the Swiss franc.