By Gertrude Chavez NEW YORK (Reuters) - The dollar fell against most major currencies on Wednesday, weighed down by reports suggesting that the U.S. economy was on a generally stable path to recovery. The Swiss franc, meanwhile, fell against the euro and the dollar, with traders citing talk the Swiss National Bank may have intervened in the market to weaken its currency. The SNB, however, declined to comment on the franc's price action. Still, Wednesday's slew of U.S. economic reports mostly garnered traders' attention. Final data showing the U.S. economy's contraction in the second quarter was slower than initially thought kept the euro and sterling firm against the greenback. These currencies, which have recently been viewed as proxies for risk appetite, tend to get a bid when economic reports point to strengthening. "The trend seems to be indicating there's growth forthcoming at some point in time," said Jack Spitz, managing director of foreign exchange at National Bank of Canada in Toronto. "It speaks to the limited but improving landscape economically in the States ... What we've seen ... is that improvements in the overall economic cycle have resulted in U.S. dollar weakness because it attracts risk buying." A separate survey by the ADP Employer Services showed some improvement in private jobs sector. Although private companies slashed 254,000 jobs in September, more than the 210,000 layoffs the market had been expecting, the number was down from the 277,000 jobs lost in August. "Certainly it is worse than expected, but it is not going to change the outlook for the economy," said Michael Woolfolk, senior currency strategist at BNY Mellon in New York. "It is an improvement from the numbers we saw earlier this year as well as from the previous month. In early New York trading, the euro was up 0.2 percent on the day, at $1.4609. The dollar dipped 0.4 percent to 89.72 yen. Against the Swiss franc, the dollar was up 0.3 percent at 1.0392, while the euro rose 0.5 percent to 1.5188 francs.

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