ZURICH: The Swiss franc was weaker against the dollar and euro on Tuesday, but hovered near last week's highs against both currencies, as dealers awaited furthers hints on the U.S. Federal Reserve's stimulus programme. Fed chief Ben Bernanke is due to hold a news conference on Wednesday following the Fed's two-day policy-setting meeting, which starts later on Tuesday. Worries the central bank could signal plans to withdraw stimulus has spurred a sell-off in riskier assets recently. "The Swiss franc has strengthened as risk aversion has flared up," said Mitul Kotecha at Credit Agricole. "While we remain bearish for the franc over the medium term, the near term outlook will be driven by risk gyrations." Markets are also watching for U.S. consumer price data, due to be released later in the day, as recent low inflation figures have lent support to the case for maintaining stimulus. Closer to home, dealers will be monitoring Swiss trade data for May and the Swiss National Bank's policy decision at 0730 GMT on Thursday. "We don't expect any shift in policy on Thursday, however, leaving USD/CHF firmly supported around 0.9130," Kotecha said. The franc fell 0.3 percent against the dollar to trade at 0.9252 by 0707 GMT compared to the New York close. The franc was down 0.1 percent against the euro at 1.2338.

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