The Swiss franc rose strongly against the dollar and was also firmer against the euro on Wednesday as investors nervously await the Swiss central bank's rate-setting session on Thursday.
The Swiss National Bank is seen by most economists as likely to keep interest rates unchanged at the quarterly policy meeting, although another hike could be on its way soon in view of the underlying strength of the Swiss economy.
The franc's surge against the dollar was partly triggered by technical factors as the euro rose to a record high against the US currency on growing expectations that the Federal Reserve will start to cut interest rates next week. The franc was trading 0.07 percent higher against the euro at 1.6443 per euro. Against the dollar, the franc was 0.28pc firmer, trading at 1.1863 per dollar.