The Swiss franc gained against the dollar on Thursday, but was marginally weaker against the euro, despite strong economic data and comments from a Swiss central banker that Swiss interest rate would rise further.
"A large part of the interest rate rises lies behind us but the journey is not over yet," SNB board member Thomas Jordan told reporters at an event in Berlin on Wednesday night. The franc was 0.05 percent weaker against the euro at 1.6496 francs per euro, still near an 8-1/2 year low of 1.6535 hit last week.
Against the dollar, the franc was 0.16 percent stronger at 1.2168 francs per dollar after the US Federal Reserve held US interest rates steady on Wednesday.
SNB board member Jordan said the development of the franc's exchange rate would have an impact on the bank's monetary policy if it proved to be having an effect on inflation.
The SNB was closely watching for signs that import prices in Switzerland were rising, he said. With Switzerland's benchmark interest rate of 2.25 percent among the lowest in the world, investors have borrowed the franc to fund investments in higher-yielding currencies such as the euro in carry trades.
Markets will be watching rate decisions later in the day by the Bank of England, which is seen raising rates to 5.5 percent, and the European Central Bank, which is likely to hold rates at 3.75 percent but signal a hike in June.
In Switzerland, data showed that Swiss consumer confidence rose to its highest level in six years in April as strong economic growth increased job security, indicating that consumption continues to support the booming Swiss economy.