Investing.com – The Swiss franc declined against the U.S. dollar on Monday, after Switzerland's central bank vowed it would continue to "act decisively" to stop an "excessive" appreciation of the Swissy versus the euro, if needed.
USD/CHF gained 0.12% to hit 1.0628 during midday European trade. The pair was likely to find resistance at 1.0898, the high of Feb. 19, and support at 1.0131, the low of Jan. 11.
Meanwhile, the Swissy was flat against the euro on Monday, after EUR/CHF hit a 17-month low on Friday.
In a monthly bulletin published on Monday, the Swiss National Bank said: "The revival remains fragile and is associated with uncertainties…The current expansionary monetary policy cannot be maintained throughout the entire forecast horizon without compromising medium- and long- term price stability."
Later Monday, U.S. Treasury Secretary Timothy Geithner was set to speak about financial reforms to a Washington-based think tank, the American Enterprise Institute.
USD/CHF gained 0.12% to hit 1.0628 during midday European trade. The pair was likely to find resistance at 1.0898, the high of Feb. 19, and support at 1.0131, the low of Jan. 11.
Meanwhile, the Swissy was flat against the euro on Monday, after EUR/CHF hit a 17-month low on Friday.
In a monthly bulletin published on Monday, the Swiss National Bank said: "The revival remains fragile and is associated with uncertainties…The current expansionary monetary policy cannot be maintained throughout the entire forecast horizon without compromising medium- and long- term price stability."
Later Monday, U.S. Treasury Secretary Timothy Geithner was set to speak about financial reforms to a Washington-based think tank, the American Enterprise Institute.