Investing.com - The U.S. dollar edged higher against the Swiss franc in subdued trade on Monday, but gains were limited as uncertainty over the future of the Federal Reserve's stimulus program continued to weigh.
USD/CHF hit 0.9244 during European morning trade, the session high; the pair subsequently consolidated at 0.9233, adding 0.17%.
The pair was likely to find support at 0.9148, the low of August 20 and resistance at 0.9290, the high of August 22.
On Friday, the Commerce Department said U.S. new home sales fell by a larger-than-forecast 13.4% in July, the largest decline in more than three years.
The weak data sparked concerns over the strength of the recovery in the housing sector and fuelled speculation over whether the Fed will start to scale back its USD85 billion-a-month asset purchase program in September.
The Swissie was lower against the euro with EUR/CHF edging up 0.13%, to hit 1.2348.
Later in the day, the U.S. was to release data on durable goods orders.
USD/CHF hit 0.9244 during European morning trade, the session high; the pair subsequently consolidated at 0.9233, adding 0.17%.
The pair was likely to find support at 0.9148, the low of August 20 and resistance at 0.9290, the high of August 22.
On Friday, the Commerce Department said U.S. new home sales fell by a larger-than-forecast 13.4% in July, the largest decline in more than three years.
The weak data sparked concerns over the strength of the recovery in the housing sector and fuelled speculation over whether the Fed will start to scale back its USD85 billion-a-month asset purchase program in September.
The Swissie was lower against the euro with EUR/CHF edging up 0.13%, to hit 1.2348.
Later in the day, the U.S. was to release data on durable goods orders.