ZURICH: The Swiss franc rose against the yen on Tuesday as the Japanese currency extended lows triggered by the reflationary campaign launched last week by the Bank of Japan.
The franc was up 0.3 percent against the yen at 106.01 by 0603 GMT compared to the New York close.
"Japan and the yen continue to garner most market attention as the currency's weakness continues to extend," said Mitul Kotecha of Credit Agricole.
The franc slipped 0.1 percent against the euro to 1.2177 and was little moved against the dollar at 0.9341, hovering below a five-week high it hit against the greenback after disappointing US jobs data on Friday.
The safe-haven franc, which the Swiss National Bank capped at 1.20 per euro in September, has risen against the single currency in recent weeks since the crisis around the Cyprus banking system erupted to trade around 1.21 per euro.
"European tensions have not eased to any significant degree with some praise for Portugal's attempts to overcome a constitutional court ruling on planned budget cuts but little progress elsewhere including in Italy where there is no sign of any agreement on the formation of a new government," said Kotecha.
Swiss unemployment data on Tuesday showed the seasonally adjusted rate unchanged in March at 3.1 percent.
Swiss inflation data due out at 0715 GMT is expected to underline the importance of the SNB's 1.20 limit as prices are still under pressure from the strong currency.
Analysts polled by Reuters forecast prices to rise 0.3 percent month-on-month but slip 0.5 percent year-on-year.
"Tuesday's data releases make no case for a more restrictive monetary policy by the SNB on the margin," said UBS economist Reto Huenerwadel.
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