Investing.com – The U.S. dollar eased from a 6-month low to hit a 2-day high against the Swiss franc on Wednesday, as fears over the rate of U.S. economic growth persisted ahead of key U.S. employment data.
USD/CHF hit 1.0434 during European morning trade, the pair's highest since August 8; the pair subsequently consolidated at 1.0413, gaining 0.19%.
The pair was likely to find short-term support at 1.0347, Tuesday's low and a 6-month low and resistance at 1.0640, the high of July 27.
On Tuesday, official data showed that that U.S. consumer spending and incomes were below expectations in June while pending home sales fell by an annualized 18.6% in June, sparking fresh fears that the U.S. recovery is stalling.
Later Wednesday, the U.S. was to release its ADP non-farm payrolls.
The Swissy was also down against the euro, with EUR/CHF gaining 0.02% to hit 1.3753.
Also Tuesday, data showed that Swiss consumer price inflation has fallen more-than-expected in July.
USD/CHF hit 1.0434 during European morning trade, the pair's highest since August 8; the pair subsequently consolidated at 1.0413, gaining 0.19%.
The pair was likely to find short-term support at 1.0347, Tuesday's low and a 6-month low and resistance at 1.0640, the high of July 27.
On Tuesday, official data showed that that U.S. consumer spending and incomes were below expectations in June while pending home sales fell by an annualized 18.6% in June, sparking fresh fears that the U.S. recovery is stalling.
Later Wednesday, the U.S. was to release its ADP non-farm payrolls.
The Swissy was also down against the euro, with EUR/CHF gaining 0.02% to hit 1.3753.
Also Tuesday, data showed that Swiss consumer price inflation has fallen more-than-expected in July.