ZURICH: The Swiss franc slipped against the euro on Monday ahead of key US economic data due later in the session expected to show a rebound in manufacturing.
Data painting a brighter picture for the US domestic economy has lifted the dollar in recent weeks as markets speculate when the U.S Federal Reserve might start unwinding its bond-buying programme.
"The major driver today will be the ISM manufacturing index in the US," said Sarasin currency strategist Ursina Kubli. "A risk-on environment is leading to a weaker Swiss franc."
Economists in a Reuters survey expect the index to rebound to about 51.1 in June, after having hit a nearly 4-year low of 49.0 last month.
In Switzerland, a manufacturing survey is expected to show the economy expanded for the third month in June albeit a slower pace than in the previous month, according to economists polled by Reuters.
The franc fell 0.1 percent against the euro to trade at 1.2309 by 0640 GMT compared to the New York close.
Against the dollar, the franc was little changed at 0.9445.
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