Swiss franc flat versus euro

The Swiss franc was flat against the euro and slightly lower versus the dollar on Tuesday as investors eyed the outcome of a European Union summit and the Swiss National Bank's chairman stated his conviction the franc would weaken. The SNB set a cap on the euro-franc exchange rate of 1.20 francs to the euro in early September to put an end to the rapid appreciation of the currency that threatened to derail the country's economy.
The franc was flat against the euro to trade at 1.227 per euro by 0652 GMT compared to the New York close. It was down 0.2 percent lower against the dollar, trading at 0.8824 per dollar.