The Swiss franc slipped against the euro on Friday although remaining perilously close to intervention levels, and retreated also against the dollar, while continuing to flirt with parity. The franc dipped 0.1 percent against the euro compared to the New York close, trading at 1.511 per euro. The franc fell 0.2 percent against the dollar, trading at 1.007 per dollar.
Several analysts said however that the dollar remains under pressure on expectations of continued low interest rates. The Swiss franc was considerably stronger against the Japanese yen, which has in its turn come under pressure recently on expectations Japanese investors could step up bond purchases. Looking further out, Credit Suisse analysts said that if in the coming months the Swiss National Bank relaxed intervention as worries over deflation abate, the euro-Swiss franc exchange could move towards 1.48 in the next year.