Investing.com - The U.S. dollar was higher against the Swiss franc on Monday, as disappointing U.S. gross domestic product data and caution ahead of a key European Union summit supported safe haven demand.
USD/CHF hit 0.9183 during European morning trade, the daily high; the pair subsequently consolidated at 0.9179, adding 0.60%.
The pair was likely to find support at 0.9107, the low of November 22 and resistance at 0.9251, the high of November 30.
Sentiment weakened after official data on Friday showed that U.S. gross domestic product expanded by 2.8% in the three months to December, the fastest quarterly rate in one-and-a-half years, but slightly below expectations for an increase of 3%.
Meanwhile, delays in talks between Greece and its private creditors on a debt restructuring deal also weighed.
An agreement is necessary for Athens to secure its next tranche of bailout funds in order to avoid a default when a EUR14.5 billion bond repayment comes due on March 20.
Later in the day, EU leaders were meet in Brussels, where they were expected to sign off on the implementation of the European Stability Mechanism, a EUR500 billion permanent euro zone bailout find, as well as a pact aimed at enforcing deficit control measures in the region.
Elsewhere, the Swissie was higher against the euro with EUR/CHF shedding 0.08%, to hit 1.2052.
Later Monday, the U.S. was to publish government data on personal spending and the consumer price index.
USD/CHF hit 0.9183 during European morning trade, the daily high; the pair subsequently consolidated at 0.9179, adding 0.60%.
The pair was likely to find support at 0.9107, the low of November 22 and resistance at 0.9251, the high of November 30.
Sentiment weakened after official data on Friday showed that U.S. gross domestic product expanded by 2.8% in the three months to December, the fastest quarterly rate in one-and-a-half years, but slightly below expectations for an increase of 3%.
Meanwhile, delays in talks between Greece and its private creditors on a debt restructuring deal also weighed.
An agreement is necessary for Athens to secure its next tranche of bailout funds in order to avoid a default when a EUR14.5 billion bond repayment comes due on March 20.
Later in the day, EU leaders were meet in Brussels, where they were expected to sign off on the implementation of the European Stability Mechanism, a EUR500 billion permanent euro zone bailout find, as well as a pact aimed at enforcing deficit control measures in the region.
Elsewhere, the Swissie was higher against the euro with EUR/CHF shedding 0.08%, to hit 1.2052.
Later Monday, the U.S. was to publish government data on personal spending and the consumer price index.