The Swiss franc firmed on the dollar in early trade in Europe on Monday, but held steady on a euro which had gained on Friday on speculation Britain might soon begin a long-awaited campaign to join the single currency.
The dollar eased to 1.6611/17 francs from 1.6675/81 late on Friday, but stayed above the 1.6585/90 late on Thursday.
The euro was at 1.4645/58 francs after 1.4639/44 late on Friday, still well above last Wednesday's low of 1.4521. The dollar pared gains after a bout of optimism last week about the outlook for a U.S. economic recovery and an end to the Afghan war.
Hopes for a quick completion of the Afganistan campaign were tempered by news of more U.S. troops being deployed in the war against Taliban and the al Qaida organisation, sparking concern about the length and cost of the operation and the impact the possible loss of life might have on morale in the United States.
For the franc, the focus remained on eurozone news and talk about the timing of the next European Central Bank [ECB] and Swiss National Bank [SNB] interest rate cuts.
The ECB's policy council meets on Thursday, but analysts expect no rate cut this time around after the central bank lowered the cost of borrowing on November 8.
As for the SNB, the market has set its sights on December 7, when the central bank presents its latest policy views at its year-end news conference. Speculation centres a rate cut by at least 25 basis points by then.