The Swiss franc firmed slightly against the dollar on Friday as the US currency took a breather after a strong rally earlier in the week on a string of upbeat US data. On Thursday strong US retail sales figures came on the heels of data showing an unexpected narrowing in the US trade and budget deficits, suggesting the Federal Reserve would keep raising interest rates at a steady pace.
Fed Chairman Alan Greenspan is slated to give his semi-annual testimony on the US economy to Congress next week.
The more upbeat tone lifted the dollar over the last two days but by Friday morning the currency had eased somewhat, changing hands at 1.2881/84 Swiss francs, slightly below the 1.2907/11 francs reached in late trading in Europe on Thursday.
The euro traded at 1.5587/88 francs, from 1.5599/01.
In Switzerland, markets price in interest rates remaining at just 0.75 percent until well into next year.
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