The Swiss franc traded lower against the dollar on Wednesday, pulling back from a fresh all-time high notched up earlier in the session after a downward dollar spike triggered some stop losses. The franc and the euro have been rising relentlessly against the dollar in recent weeks, with the greenback weighed down by expectations the US Federal Reserve will confirm its ultra-easy monetray policy stance later on Wednesday.
But the franc, whose trend against the euro has been higher in recent sessions, may need to consolidate against the euro and the dollar before attempting to break through the next resistance levels, traders said. The franc was 0.3 percent weaker against the euro compared to the New York close, trading at 1.2842 francs per euro at 0807 GMT. The franc was 0.1 percent softer against the dollar at 0.8752 per dollar after breaching 0.87 francs to the dollar for the first time ever earlier in the session.