The Swiss franc treaded water against major currencies on Wednesday as investors weighed up the possibility of a global recession against the benefits from European bailout plans. "Today we may see stock markets that are a little bit softer and the euro/franc could go a little bit lower as some risk aversion returns," said Ronald Plasser, analyst at Austrian RZB.
The franc was little changed against the euro compared to the New York close, trading at 1.5475 per euro. Against the dollar, the franc was also near flat at 1.1357 per dollar. The Swiss franc has come under pressure recently as some risk appetite has returned after European governments announced sweeping rescue packages for banks.