The Swiss franc came off vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.0900 figure and was supported around the CHF 1.0830 level. Data released in Switzerland today saw the June consumer price index rise 0.2% m/m and decline 1.0% y/y. Many traders suspect the Swiss National Bank has been intervening in the market by selling francs to weaken the domestic currency. SNB Directorate member Jordan yesterday indicated €œwe continue to consider interventions to prevent an excessive rise in the Swiss franc.€ SNB Vice President Hildebrand said the Swiss economic recovery may lag the global recovery because Switzerland was impacted later than many countries. Hildebrand suggested the global economy is no longer in a €œfree-fall.€ U.S. dollar offers are cited around the CHF 1.1165 level. The euro moved higher vis-à-vis the Swiss franc as the single currency tested offers around the CHF 1.5250 level while the British pound came off vis-à-vis the Swiss franc and tested bids around the CHF 1.7725 level.