The Swiss franc was slightly weaker against the euro on Friday, hovering close to a two-month low hit after the Swiss National Bank said it would intervene on the foreign exchange markets to fight deflation. The SNB cut interest rates and said on Thursday it would buy foreign currencies, pushing the Swissie down more than 3 percent against the euro and around 2.5 percent against the dollar.
"The appreciation of the franc has hit a wall but we dont think that the depreciation trend is starting now," said Credit Suisse analyst Martin MacMahon.