ZURICH: The Swiss franc was treading water against the euro and the dollar on Wednesday as investors waited for an Italian bond sale later in the week to add some impulse to sluggish year-end trading.
The embattled European currency, which slid against major currencies including the Swiss franc this year, could come under pressure again after Italy's 8.5 billion euros bond sale and German CPI data on Thursday.
The leading Swiss growth indicator, the KOF economic barometer for December, is due at 1030 GMT and should give further insight into the state of the Swiss economy, whose export industry is feeling the pinch from the strong franc.
The franc was unchanged against the dollar compared to the New York close, trading at 0.9342 by 0714 GMT. It was also flat against the euro at 1.2202 francs per euro.
"In thin holiday trading the franc crosses are going nowhere fast. A largely unchanged UBS consumption indicator at +0.81 failed to add new impulses, too," UBS economist Reto Huenerwadel said in a note.
"If anything, the somewhat upbeat economic indicators published of late support the franc at this trajectory," he said.
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