The Swiss franc weakened early on Wednesday despite a strong performance of the economy in the previous session, as markets expected the Swiss National Bank to raise interest rates at a modest pace only.
The franc remained close to its lowest level in over two months against the dollar hit a day earlier, trading at 1.2535 per dollar, despite soaring May retail sales and the ZEW sentiment index showing Swiss output might expand further.
The franc also was slightly weaker against the euro, changing hands for 1.5667 per euro. The Swiss currency had been boosted against major currencies by safe-haven flows last week, when the Middle-East conflict hit markets.