The Swiss franc posted further gains overnight on Wednesday after U.S. consumer confidence slipped to a seven-year low in November, raising doubts about prospects for a quick U.S. economic rebound.
The euro slipped to 1.4560/65 francs at 0655 GMT from 1.4617/30 francs late on Tuesday and 1.4637/50 late on Monday. It went as low as 1.4533.
The euro had traded at 1.4521 francs on November 21, but has gained ground recently amid expectations the Swiss National Bank will do what it can to combat franc strength, especially against the euro.
The dollar retreated to 1.6437/47 francs from 1.6582/92 francs on Tuesday afternoon and 1.6623/29 francs late on Monday.
A strong franc tends to weigh on exports, and also raises the price of stays in Switzerland which undermines the country's tourist industry.
Incoming orders to the Swiss machinery, electronics and metalworking industry -- the country's largest export sector -- fell 17.4 percent in the third quarter versus a year earlier.
The sector also faces major structural adjustments if the euro stays at current levels against the strong franc, the Swissmem industry association said. Swiss non-farm payrolls rose 1.1 percent in the third quarter, but the index for hiring prospects fell as employers turned cautious on the outlook.
Economists said the looming slowdown and the absence of inflationary pressure suggested the Swiss National Bank could cut its interest rates for the fourth time this year when it releases its quarterly policy review on December 7.