The Swiss franc hovered against the euro and the dollar on Tuesday with little direction seen ahead of the quarterly meeting of the Swiss central bank on Thursday. The franc ticked up 0.1 percent against the dollar to trade at 0.9324 compared to the New York close. The franc was flat against the euro at 1.2078.

The Swiss National Bank is expected to reiterate its commitment to maintaining a lid on the safe-haven currency at 1.20 per euro when it announces its quarterly monetary policy decision at 0830 GMT on Thursday. Data out on Monday showed the amount of cash commercial banks held with the SNB fell slightly last week.

Copyright Reuters, 2012