The Swiss franc traded largely unchanged against the euro on Wednesday after Greece passed its first borrowing test since euro zone leaders agreed to a potential aid package. "Yesterday we had the successful bond issuance of Greece. But the amount was fairly low at 1.56 billion euros so this was not a real sentiment test," said Credit Suisse analyst Sven Schubert.
"Greek bond yields remained relatively high, capping the euro/dollar, and the euro/Swissie was stable," he said. The franc is likely to tread water against the euro as there are few events in Switzerland this week that could boost the currency, Schubert said.
The franc was trading 0.06 percent lower against the euro at 1.4355 per euro. Against the dollar, the franc was trading 0.03 percent firmer at 1.0532 per dollar. Analysts were also focusing on Federal Reserve Chairman Ben Bernanke's testimony Wednesday on the economic outlook before the Joint Economic Committee.