ZURICH, Jan 9 - The Swiss franc remained soft against the euro on Wednesday after a senior Swiss central banker was quoted in an interview on Tuesday as saying the franc remains the single most important factor for the Swiss economy.
By 0710 GMT, the euro traded at 1.4775/85 francs, up from 1.4740/42 francs in late European trading on Tuesday.
The dollar was at 1.6555/65 francs, little changed from 1.6554/59 francs on Tuesday.
"The exchange rate is the most important among various economic factors for this small, open country," Swiss National Bank Vice-Chairman Bruno Gehrig said in the interview with weekly Handeslzeitung.
The market took his statement to mean that the central bank would be prepared to cut interest rates in an effort to rein in the franc's strength against the euro, the currency of Switzerland's main trading partner.
"Similar comments tell markets that the SNB is fully aware of the problem that the Swiss economy is facing with a strong...franc," said UBS Warburg in its daily briefing note.
The market also thinks the SNB will "be successful in bringing the Swiss franc lower," it added.
The euro is expected to run into overhead resistance at 1.48 francs, with support seen at 1.4650 francs.
The dollar is expected to remain within its 1.64 to 1.66 francs trading range, dealers said.
Upbeat U.S. economic data could prompt a test of resistance at 1.66 francs particularly in the absence of any economic or political crisis which would tend to benefit the franc, seen as a safe-haven currency during periods of turmoil, they added.