Investing.com – The U.S. dollar was down against the Swiss franc on Thursday, retreating from a 5-week high, after reports that Federal Reserve easing was likely to be gradual disappointed expectations of large scale asset purchases.
USD/CHF hit 0.9841 during European morning trade, a daily low; the pair subsequently consolidated at 0.9856, shedding 0.49%.
The pair was likely to find support at 0.9701, Tuesday’s low and resistance at 0.9928, Wednesday’s high and a 5-week high.
Earlier in the week, the Wall Street Journal reported that the U.S. Federal Reserve was likely to unveil a program of U.S. Treasury bond purchases worth a few hundred billion dollars over several months following next week’s policy meeting.
The report disappointed market expectations of purchases in excess of USD 1 trillion.
The Swissy was also up against the euro, with EUR/CHF shedding 0.02% to hit 1.3634.
Later in the day, the U.S. was to release key weekly data on initial jobless claims.
USD/CHF hit 0.9841 during European morning trade, a daily low; the pair subsequently consolidated at 0.9856, shedding 0.49%.
The pair was likely to find support at 0.9701, Tuesday’s low and resistance at 0.9928, Wednesday’s high and a 5-week high.
Earlier in the week, the Wall Street Journal reported that the U.S. Federal Reserve was likely to unveil a program of U.S. Treasury bond purchases worth a few hundred billion dollars over several months following next week’s policy meeting.
The report disappointed market expectations of purchases in excess of USD 1 trillion.
The Swissy was also up against the euro, with EUR/CHF shedding 0.02% to hit 1.3634.
Later in the day, the U.S. was to release key weekly data on initial jobless claims.