Investing.com – The U.S. dollar erased early gains against the Swiss franc on Monday, turning lower to hover just above last Thursday's 30-month low of 0.9711.
USD/CHF hit 0.9712 during European morning trade, the pair's lowest since September 30; the pair subsequently consolidated at 0.9726, shedding 0.13%.
The pair was likely to find support at 0.9634, the low of March 17, 2008, and resistance at 0.9981, the high of September 22.
Earlier in the day, a Swiss government commission said that Switzerland's global banks Credit Suisse and UBS must hold capital well in excess of new international standards to limit the risk that a bank failure could drag down the whole economy.
The commission of top regulators, bank executives and other industry representatives said that a mixture of measures was needed to reduce the risk of having banks with a "too big to fail" problem.
The Swissy was also up against the euro, with EUR/CHF tumbling 0.90% to hit 1.3309.
Later in the day, the U.S. was to publish industry data on pending home sales while Fed chairman Ben Bernanke was to make a speech.
USD/CHF hit 0.9712 during European morning trade, the pair's lowest since September 30; the pair subsequently consolidated at 0.9726, shedding 0.13%.
The pair was likely to find support at 0.9634, the low of March 17, 2008, and resistance at 0.9981, the high of September 22.
Earlier in the day, a Swiss government commission said that Switzerland's global banks Credit Suisse and UBS must hold capital well in excess of new international standards to limit the risk that a bank failure could drag down the whole economy.
The commission of top regulators, bank executives and other industry representatives said that a mixture of measures was needed to reduce the risk of having banks with a "too big to fail" problem.
The Swissy was also up against the euro, with EUR/CHF tumbling 0.90% to hit 1.3309.
Later in the day, the U.S. was to publish industry data on pending home sales while Fed chairman Ben Bernanke was to make a speech.