The Swiss franc hovered above a two-month low against the dollar in early trade on Wednesday after Tuesday's buoyant U.S. consumer data suggested the world's largest economy remained vibrant, boosting the greenback. The dollar traded at 1.2743/47 francs compared with levels around 1.2750 francs late on Tuesday in Europe. It had earlier rallied to a high of 1.2776 francs -- it's highest level in two months. The euro was trading around 1.5381/85 francs from levels around 1.5385. The stronger-than-expected U.S. consumer confidence report for July fuelled market expectations the Federal Reserve could raise interest rates faster than had previously been expected. The dollar had already rallied last week on upbeat remarks by Fed Chairman Alan Greenspan, who signalled that tightening monetary policy quicker posed less of a risk to the U.S. economy's recovery than leaving rates too low for too long. In Switzerland, the central bank is also expected to raise key interest rates this year following an effective 25 basis point rate hike last month, as the export-dependent economy continues its recovery.///www.reuters.com