The Swiss franc pushed higher against the dollar on Tuesday on the back of a pick up in risk appetite after solid US manufacturing data spurred an overnight rally in global equities. The franc was 0.2 percent higher against the dollar compared to the New York close, trading at 0.9017 francs to the dollar. The franc was steady against the euro at 1.2040 francs per euro.
Analysts said despite the retreat in risk aversion, demand was unlikely to fall away for the dollar, seen as the last safe-haven currency following interventions by the Swiss and Japanese central banks to weaken their currencies last year. The franc was steady against the euro a day after hitting its highest level for six months, trading in sight of the 1.20 francs per euro cap imposed by the Swiss National Bank on September 6 to prevent the economy from slipping into recession.