ET:Swiss franc down vs dollar ahead of Bernanke's testimony
ZURICH: The Swiss franc slipped against the dollar and the euro on Wednesday ahead of US Federal Reserve Chairman Ben Bernanke's testimony to Congress later in the day.
Bernanke is expected to calm the nerves of jittery investors worried about life without the Fed's bond purchases after he set off a global market sell-off last month when he outlined plans to reduce the quantitative easing program.
The franc fell 0.3 per cent against the dollar to trade at 0.9415 by 0629 GMT compared to the New York close.
The franc slipped 0.1 per cent against the euro to 1.237.
"With the big new domestic impulses largely lacking, we expect technical trading on international factors to decide on the direction of the main franc crosses near term," said UBS economist Reto Huenerwadel.
The next Swiss data on the calendar include the ZEW indicator due at 0900 GMT and trade data, due on Thursday at 0600 GMT.
