ZURICH: The Swiss franc was higher against the dollar as it climbed off a six-month low struck a day earlier after a raft of US data released on Thursday pointed to a steady recovery in the world's largest economy.
The latest data buoyed risk appetite and lifted the Dow Jones industrials Average to a record close while dampening demand for the safe-haven dollar. Asian equities markets also rebounded after three days of losses.
The franc rose 0.1 percent against the dollar compared to the New York close, trading at 0.9455 francs per dollar at 0821 GMT.
The franc held steady against the euro at 1.2315.
The Swiss National Bank has vowed to maintain a 1.20 limit set on the franc in Sept. 2011 after investors seeking a safe-haven from the spiralling euro zone crisis bid the currency up to record levels, threatening to tip the economy into recession.
On Thursday the SNB underlined its determination to enforce the cap, by buying unlimited quantities of foreign currency if necessary as it warned the euro zone crisis could resurface.
"The SNB did not change its stance and was more dovish than we expected," said Commerzbank forex strategist Antje Praefcke.
Swiss producer and import price data showed prices ticking up 0.1 percent year on year, indicating the SNB's 1.20 limit on the franc is helping maintain price stability.
Praefcke said that the franc could push higher against the single currency if a euro group meeting to discuss Cyprus did not agree on bailout programme for the heavily indebted island.
"But it won't be a major risk event in the euro zone, and we don't except to see Swissie pushing as high as 1.21 level."
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