Swiss National Bank broad member Jean-Pierre Danthine was quoted in the l'agefi newspaper as saying deflationary risks have disappeared and Swiss exports have proven to be robust despite a stronger currency.
The market showed little reaction to a G20 leaders' summit where they agreed to take different paths to cutting budget deficits, a reflection of the uneven and fragile economic recovery in many countries.
The market is not taking too many aggressive positions right now, just waiting for the next chapter of the global growth story, said Chris Turner, head of forex strategy at ING.
U.S. non-farm payrolls due on Friday will add more clarity on the state of the world's largest economy after data showed on Friday that its growth in the first quarter was slower than previously reported, while China's PMI data is due on Thursday.
By 1122 GMT, the euro fell 0.7 percent to 1.3426 franc EURCHF= after falling to a low of 1.3413. Danthine's comments came after the SNB had backed off a pledge to fight excessive appreciation of the franc earlier this month.
ING's Turner said uncertainty caused by a weaker Romanian leu EURRON= also put pressure on euro/swissie. Romania's government said it would raise value added tax, increasing concerns about the country's political stability and economic recovery.
The single currency eased 0.2 percent from late U.S. trade on Friday at $1.2345 EUR=. Near-term resistence was seen at $1.2490, the high struck on June 21, with support forming around Friday's low of $1.2254.
Option barriers were cited around $1.2400, traders said.
The dollar index .DXY, which tracks the performance of the greenback versus a basket of six other major currencies, drifted 0.1 percent higher to 85.417, holding above last week's low of 85.09, which was seen as near-term support.
A fall below that level would take the index to its weakest since mid-May. Support below that was seen near the 55-day moving average at 84.80.
Against the yen, the dollar was at 89.33 yen JPY=, not far from a five-week low of 89.21 hit on Friday after first quarter U.S. growth data was revised down. Japanese corporate yen demand at the month-end may also underpinned the yen.
The latest data from the Commodity Futures Trading Commission showed currency speculators slightly trimmed bets on the greenback and went long on the yen in the week to June 22. Net euro short positions against the dollar increased.
The euro also faces downward pressure this week from political uncertainty stemming from Germany's presidential election and potential funding tensions as the European Central Bank's one-year loans worth 442 billion euros expire.
(Graphics by Scott Barber)
(Additional reporting by Tamawa Desai; editing by Toby Chopra)