Dollar up as eyes turn to Fed

Against the dollar, the euro advanced to USD1.1650 from USD1.1626. Versus the yen, the dollar faded to JPY147.20 from JPY147.32.

"Three regional Fed presidents appear to be favouring a September rate cut," Bannockburn analyst Marc Chandler commented, noting San Francisco Federal Reserve president Mary Daly, Federal Reserve Governor Lisa Cook and Neel Kashkari, the head of the Federal Reserve Bank of Minneapolis.

Neither Kashkari nor Daly are voting members of the Fed this year.

Against the Swiss franc, the buck rose to CHF0.8082 on Thursday, from CHF0.8061 on Wednesday.

Analysts at ING commented: "The franc continues to suffer from deteriorating US-Switzerland trade relations. The Swiss President returned from a Washington visit yesterday without securing improved trade terms, reducing the likelihood of an imminent deal."

Switzerland scrambled for answers Thursday after a last-gasp government mission to Washington failed to stop a 39% tariff blow from President Donald Trump, sparking job fears in what businesses called a "horror scenario".

The government was due to hold an emergency meeting after President Karin Keller-Sutter and Economy Minister Guy Parmelin returned home from their trip empty-handed.

Trump blindsided the Swiss last week when he announced that the country would be hit by one of the highest tariffs among new duties on imports from dozens of economies that took effect on Thursday.

The Swiss rate was higher than Trump's previous threat of a 31% tariff.

Switzerland said it is "firmly committed" to pursuing US tariff talks, AFP reported, and that it has no plans for countermeasures at the moment.

Versus the Australian dollar, the greenback faded to AUD1.5318 from AUD1.5366. Against its Canadian counterpart, the US currency fell to CAD1.3732 from CAD1.3745.