The Swiss franc appreciated against its major counterparts in the European session on Thursday, as European shares fell after the minutes from the U.S. Federal Reserve's latest policy meeting showed that policy makers were worried about a spike in inflation and opted for an eventual reduction of the stimulus programme.

Fed officials indicated that the recent jump in U.S. inflation was higher than expected and agreed that scaling back their bond-buying program is appropriate in response to unexpected economic developments.

Investors await the European Central Bank's announcement of results of strategy review due today. The ECB is expected to lift its inflation goal to 2 percent, a significant change from the current target of "below, but close to, 2% over the medium term."

Data from the State Secretariat for Economic Affairs showed that Switzerland's jobless rate decreased marginally in June.

The jobless rate fell a seasonally to 3.1 percent in June from 3.2 percent in May.

The franc strengthened to a 10-day high of 0.9170 against the dollar, near 5-month high of 1.0838 against the euro and 4-week high of 1.2620 against the pound, off its early lows of 0.9261, 1.0919 and 1.2782, respectively. Next key resistance for the franc is likely seen around 0.90 against the dollar, 1.06 against the euro and 1.25 against the pound.

The franc gained to 119.92 against the yen, from more than a 2-week low of 119.00 seen at 3 am ET. The franc is likely to face resistance around the 123 region.

Looking ahead, the European Central Bank publishes the account of the monetary policy meeting of the Governing Council held on June 9-10 at 7:30 am ET.

U.S. weekly jobless claims for the week ended July 3 and consumer credit for May will be published in the New York session.

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