Investing.com - The U.S. dollar trimmed gains against the Swiss franc on Monday, pulling back from a two-day high as gains in European equity markets hit demand for safe haven assets.
USD/CHF pulled back from 0.9144, the pair's highest since September 22 to hit 0.9085, still up 0.32%.
The pair was likely to find support at 0.8789, the low of September 20 and resistance at 0.9223, the high of March 29.
Market sentiment was boosted amid speculation that the European Central Bank may cut interest rates to boost the region's economy, after ECB Governing Council member Ewald Nowotny said that the possibility of interest rate cuts should not be ruled out.
The dollar was higher against the Swiss franc earlier as concerns over Greece's bailout intensified, after Germany's deputy finance minister said Sunday that Athens will probably have to wait beyond a key meeting on October 3rd for a decision on its next tranche of bailout funds.
Elsewhere, Swiss National Bank Chairman Philipp Hildebrand on Sunday reiterated the bank's determination to maintain the cap on the Swiss franc introduced earlier this month to help the country's exports.
The Swissie was fractionally higher against the euro with EUR/CHF inching down 0.02%, to hit 1.2224.
Later in the day, a U.S. report on new home sales was to be published.
USD/CHF pulled back from 0.9144, the pair's highest since September 22 to hit 0.9085, still up 0.32%.
The pair was likely to find support at 0.8789, the low of September 20 and resistance at 0.9223, the high of March 29.
Market sentiment was boosted amid speculation that the European Central Bank may cut interest rates to boost the region's economy, after ECB Governing Council member Ewald Nowotny said that the possibility of interest rate cuts should not be ruled out.
The dollar was higher against the Swiss franc earlier as concerns over Greece's bailout intensified, after Germany's deputy finance minister said Sunday that Athens will probably have to wait beyond a key meeting on October 3rd for a decision on its next tranche of bailout funds.
Elsewhere, Swiss National Bank Chairman Philipp Hildebrand on Sunday reiterated the bank's determination to maintain the cap on the Swiss franc introduced earlier this month to help the country's exports.
The Swissie was fractionally higher against the euro with EUR/CHF inching down 0.02%, to hit 1.2224.
Later in the day, a U.S. report on new home sales was to be published.