Investing.com - The U.S. dollar was almost unchanged against the Swiss franc on Wednesday, as investors remained cautious ahead of the Federal Reserve's upcoming policy statement, expected later in the day.
USD/CHF hit 0.9268 during European morning trade, the session high; the pair subsequently consolidated at 0.9260, inching up 0.01%.
The pair was likely to find support at 0.9171, the low of August 28 and resistance at 0.9336, the high of September 12.
Investors were awaiting the outcome of the Fed’s two-day policy meeting, due to conclude later Wednesday. The central bank was expected to announce plans to start tapering its USD85 billion-a-month asset purchase program.
A recent series of soft economic data raised doubts over how much the U.S. central bank will reduce its stimulus program, weighing on the dollar.
In Switzerland, data showed that the ZEW economic expectations index rose to 16.3 last month, from a reading of 7.2 in July, confounding expectations for an increase to 20.0.
The Swissie was higher against the euro with EUR/CHF edging down 0.11%, to hit 1.2354.
Later in the day, the U.S. was to release data on building permits and housing starts.
USD/CHF hit 0.9268 during European morning trade, the session high; the pair subsequently consolidated at 0.9260, inching up 0.01%.
The pair was likely to find support at 0.9171, the low of August 28 and resistance at 0.9336, the high of September 12.
Investors were awaiting the outcome of the Fed’s two-day policy meeting, due to conclude later Wednesday. The central bank was expected to announce plans to start tapering its USD85 billion-a-month asset purchase program.
A recent series of soft economic data raised doubts over how much the U.S. central bank will reduce its stimulus program, weighing on the dollar.
In Switzerland, data showed that the ZEW economic expectations index rose to 16.3 last month, from a reading of 7.2 in July, confounding expectations for an increase to 20.0.
The Swissie was higher against the euro with EUR/CHF edging down 0.11%, to hit 1.2354.
Later in the day, the U.S. was to release data on building permits and housing starts.