The Swiss franc dipped against the euro on Thursday but remained close to its highest level since March 2009, and firmed against the dollar as investors awaited December producer and import prices due out on Friday. Analysts say Switzerland's comparatively robust economy continues to support the franc, although investors are unlikely to test too vigorously the Swiss National Bank's resolve to prevent an "excessive rise" in the franc.
"While validating the favourable Swiss growth outlook foreign exchange investors are no longer willing to stand against the explicit statement by the SNB that they are not willing to accept an excessive franc strengthening against the euro," said UBS economist Reto Huenerwadel. The franc fell 0.2 percent against the euro compared to the New York close, trading at 1.4797 per euro.