Investing.com – The Swiss franc rose to parity against the U.S. dollar for the first time in 9 months on Tuesday, amid continuing fears over the strength of the global economic recovery.
USD/CHF hit 0.9998 during European morning trade, the pair's lowest since December 4; the pair subsequently consolidated at 1.0029, shedding 0.47%.
The pair was likely to find support at 0.9915, the low of November 26, 2009 and resistance at 1.0206, Monday's high.
The francs sharp gains have sparked renewed speculation that the Swiss National Bank may have to intervene in currency markets to arrest the currency's rise. In June the bank halted its policy of intervention, saying that deflationary risks had "largely disappeared".
The Swissy was also up against the euro, with EUR/CHF shedding 0.73% to hit 1.2883.
Later in the day, the U.S. was to release key data on retail sales
USD/CHF hit 0.9998 during European morning trade, the pair's lowest since December 4; the pair subsequently consolidated at 1.0029, shedding 0.47%.
The pair was likely to find support at 0.9915, the low of November 26, 2009 and resistance at 1.0206, Monday's high.
The francs sharp gains have sparked renewed speculation that the Swiss National Bank may have to intervene in currency markets to arrest the currency's rise. In June the bank halted its policy of intervention, saying that deflationary risks had "largely disappeared".
The Swissy was also up against the euro, with EUR/CHF shedding 0.73% to hit 1.2883.
Later in the day, the U.S. was to release key data on retail sales