ZURICH: The Swiss franc rose against the dollar, which slid to a seven-week low as uncertainty over when the Federal Reserve might begin reducing its stimulus weighed on prospects for bigger yield advantages.
Although the US dollar had hit a three-year high last month as investors had bet the Fed would be well ahead of other central banks in scaling back its easy money strategy, inconclusive economic data and mixed comments from the Fed in recent weeks have raised doubts over the timing.
Closer to home, Swiss inflation was steady in July while the Swiss National Bank's foreign exchange reserves edged higher, but still remained broadly stable, according to economists.
"For another month the data thereby highlight the stability of the SNB's balance sheet halfway through 2013," UBS economist Reto Huenerwadel said.
Unemployment rose a touch to 3 percent in July, data showed on Thursday.
The franc rose 0.1 percent against the dollar to trade at 0.9213 by 0634 GMT compared to the New York close.
The franc was virtually unchanged against the euro.
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