ZURICH: The Swiss franc ticked higher against the dollar on Friday, closing on a twenty-day high hit the previous session as it mirrored euro gains.
The euro was firmer against other currencies on expectations international lenders may soon reach a deal to release the next tranche of aid for Greece.
The franc has been trading almost in tandem with the single currency since the Swiss National Bank capped it at 1.20 per euro more than a year ago in order to stave off recession and deflation.
"The dollar-franc continues to move in tandem with the euro-dollar. More confidence in the market could support the euro-franc, but uncertainty over the euro group meeting and questions around Greece are more likely to keep the euro-swissie under pressure," said Commerzbank forex strategist Antje Praefcke.
"We still don't see much flow in the euro-Swis franc cross. It's quite a dead end trade for the moment."
The franc rose 0.1 percent against the dollar compared to the New York close, trading at 0.9342 francs per dollar at 0638 GMT.
The franc eas steady against the euro at 1.2044 francs per euro.
Despite rising hopes for a Greek solution, the euro zone economy remains under pressure, and is on course for its weakest quarter since the dark days of early 2009, according to business surveys that showed shrinking order books in November.
Service sector firms like banks and hotels that comprise the bulk of the economy fared particularly badly this month, and laid off staff at a faster pace.
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