The Swiss franc tracked the euro lower against the dollar on Friday afters US lawmakers failed to reach a deal to avoid the growth-sapping tax hikes and spending cuts that could push the world's largest economy into recession. The franc fell 0.3 percent against the dollar compared to the New York close to trade at 0.9140 francs per dollar by 0824 GMT. The franc was steady against the euro at 1.2073 per euro.

The franc has moved practically in lockstep with the single currency since the Swiss National Bank imposed a 1.20 francs per euro cap in September 2011 after the ultra-strong franc had risked tipping the economy into recession.

Copyright Reuters, 2012