The Swiss franc was slightly lower against the euro and the dollar on Wednesday after the previous day's strong rally as good demand for the debut bond from Europe's financial rescue fund reassured investors. Worries about the economy and a shock contraction in the United Kingdom's gross domestic product pushed the safe-haven franc higher on Tuesday.
The franc was down 0.3 percent against the euro compared to the New York close, trading at 1.2931 per euro at 0820 GMT. "Dollar-franc remains under downward pressure and is now approaching the key support area at 0.9350," they said in a note. The franc was 0.2 percent lower against the dollar at 0.9441 per dollar. The dollar held near a 10-week low against a basket of currencies on Wednesday, with the market looking for confirmation from the Federal Reserve later in the day that its focus remains on supporting growth.