The Swiss franc ticked down against the dollar on Wednesday as investors remained wary about taking on risk on concerns about how fast the global recovery. "The market remains on recovery watch, with any increase in economic sentiment still likely to weigh on the safe haven currencies dollar and yen," analysts at Calyon said in a note.
"But for now the scope and pace of the economic recovery is starting to be questioned, despite some recent positive economic numbers," the analysts said. The franc was 0.1 percent weaker against the dollar at 1.09 per dollar. The franc was near flat against the euro compared to the New York close, trading at 1.5163 per euro.
"With every day of a lower euro-franc, the question re-emerges whether the SNB bolsters market sentiment that they defend the 1.50 threshold," UBS analyst Reto Huenerwadel said. The bank may allow the euro-franc to fall below 1.50 before stepping in again, he said.