The Swiss franc was unchanged against the dollar on Tuesday after losing ground against the greenback in the previous two sessions, although few clear indicators offered traders any real direction. The franc ticked up against the euro, but gave scant indication that it could break out of the 1.50-1.525 range that has prevailed since the Swiss National Bank intervened in March to stop its appreciation.
"There is little expectation for the franc to move much ahead of the Swiss National Bank meeting on June 18, and few indications from the SNB on policy measures," said Deutsche Bank economist Henrik Gullberg. "Expectations are the SNB will continue to be dovish on weak economic data, which will limit any strength in the franc," Gullberg said.