ZURICH: The Swiss franc was little moved against the euro and the dollar on Thursday as investors fretted over growth prospects in the United States and China, the world's largest economies, weighing on risk assets and putting equities under pressure.
Trading in the euro-franc and dollar-franc pairs was muted as investors eyed a slough of U.S economic data due out later in the day, as well as Friday's KOF indicator which could give more clues about Switzerland's near term economic prospects.
Analysts said despite continuing macroeconomic concerns, the uptrend in risk appetite remained intact, keeping a lid on foreign exchange volatility and keeping the euro-dollar pair trading in a fairly narrow channel.
"Over the short term there appears to be little to jolt markets out of their stupor and if anything EUR/USD is likely to continue to drift higher according to our short term quantitative models," analysts at Credit Agricole said.
"Indeed, firmer risk appetite, despite the odd hiccup, plays positively for the EUR while the pull back in US bond yields has restrained the USD."
The franc was stable against the euro compared to the New York close, trading at 1.2051 francs per euro at 0711 GMT.
The franc has continued to trade in a tight range against the euro, close to the 1.20 mark, since the Swiss National Bank imposed a cap at that level in September to help the Swiss economy stave off recession.
The franc was little changed against the dollar at 0.904 francs per dollar.
?Reuters