Investing.com - The U.S. dollar was almost unchanged against the Swiss franc on Thursday, trading near two-week highs as hopes of progress in U.S. budget negotiations to avoid a potential sovereign default supported demand for the greenback.
USD/CHF hit 0.9131 during European morning trade, the pair's highest since September 25; the pair subsequently consolidated at 0.9105, edging up 0.06%.
The pair was likely to find support at 0.9020, Wednesday's low and resistance at 0.9235, the high of August 28.
Hopes that the partial U.S. government shutdown may soon end received a boost from news that House Republican leaders were to hold their first meeting with President Barack Obama since the shutdown began later on Thursday.
President Obama has demanded Republicans raise the U.S. debt ceiling and reopen the government before negotiations on future fiscal policy can take place. The U.S. risks a sovereign debt default if the government borrowing limit is not raised by 17 October.
The dollar also strengthened after the minutes from the Fed’s September meeting said the decision not to begin tapering stimulus was a "close call," fuelling expectations that the bank will begin to scale back bond purchases in the next few months.
In addition, President Barack Obama announced on Wednesday his nomination of Federal Reserve Vice Chairwoman Janet Yellen to head the U.S. central bank, easing uncertainty over U.S. monetary policy.
The Swissie was steady against the euro with EUR/CHF adding 0.07%, to hit 1.2315.
USD/CHF hit 0.9131 during European morning trade, the pair's highest since September 25; the pair subsequently consolidated at 0.9105, edging up 0.06%.
The pair was likely to find support at 0.9020, Wednesday's low and resistance at 0.9235, the high of August 28.
Hopes that the partial U.S. government shutdown may soon end received a boost from news that House Republican leaders were to hold their first meeting with President Barack Obama since the shutdown began later on Thursday.
President Obama has demanded Republicans raise the U.S. debt ceiling and reopen the government before negotiations on future fiscal policy can take place. The U.S. risks a sovereign debt default if the government borrowing limit is not raised by 17 October.
The dollar also strengthened after the minutes from the Fed’s September meeting said the decision not to begin tapering stimulus was a "close call," fuelling expectations that the bank will begin to scale back bond purchases in the next few months.
In addition, President Barack Obama announced on Wednesday his nomination of Federal Reserve Vice Chairwoman Janet Yellen to head the U.S. central bank, easing uncertainty over U.S. monetary policy.
The Swissie was steady against the euro with EUR/CHF adding 0.07%, to hit 1.2315.