Swiss franc steadies

02 Jun, 2011

The Swiss franc treaded water against the euro and the dollar on Wednesday as investors await the outcome of the Greek aid package as well as Swiss economic data for more clues about when Switzerland may start to hike rates.
The franc hit has recently pulled back from record highs versus the euro and the dollar as a deal with Greece looks more likely, while weaker than expected Swiss economic growth also suggested an interest rate hike was unlikely to come soon.
The franc was 0.1 percent weaker against the euro compared to the New York close, trading at 1.2312 francs per euro at 0701 GMT. The franc also largely flat against the dollar at 0.8539 francs per dollar.

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