Investing.com - The U.S. dollar was higher against the Swiss franc on Tuesday, after the release of positive Swiss economic reports, while concerns over the outcome of the current U.S. budget impasse persisted.
USD/CHF hit 0.9066 during European morning trade, the pair's highest since October 4; the pair subsequently consolidated at 0.9058, gaining 0.34%.
The pair was likely to find support at 0.8978, the low of October 4 and resistance at 0.9111, the high of September 27.
Official data showed that retail sales in Switzerland rose 2.4% in August from a year earlier, outstripping expectations for a 1% gain.
A separate report showed that Swiss consumer prices were down 0.1% on a year-over-year basis in September, in line with forecasts.
In the U.S., President Barack Obama repeated Monday that he is willing to negotiate with congressional Republicans on a range of topics, including healthcare and energy policy, but only after the government is reopened.
Mr. Obama also called on Congress to raise the government borrowing limit ahead of the October 17 deadline, the date which the Treasury Department has estimated the U.S. could risk a default.
Republican House Speaker John Boehner on Sunday said the House will not support bills to fully reopen the government or increase the U.S. debt ceiling unless the Obama administration agrees to talks aimed at reducing the deficit.
The Swissie was lower against the euro with EUR/CHF adding 0.25%, to hit 1.2293.
In the euro zone, official data showed that Germany's trade surplus widened more-than-expected in August, rising to EUR15.6 billion from an upwardly revised surplus of EUR15 billion the previous month.
Analysts had expected the trade surplus to widen to EUR15.1 billion in August.
USD/CHF hit 0.9066 during European morning trade, the pair's highest since October 4; the pair subsequently consolidated at 0.9058, gaining 0.34%.
The pair was likely to find support at 0.8978, the low of October 4 and resistance at 0.9111, the high of September 27.
Official data showed that retail sales in Switzerland rose 2.4% in August from a year earlier, outstripping expectations for a 1% gain.
A separate report showed that Swiss consumer prices were down 0.1% on a year-over-year basis in September, in line with forecasts.
In the U.S., President Barack Obama repeated Monday that he is willing to negotiate with congressional Republicans on a range of topics, including healthcare and energy policy, but only after the government is reopened.
Mr. Obama also called on Congress to raise the government borrowing limit ahead of the October 17 deadline, the date which the Treasury Department has estimated the U.S. could risk a default.
Republican House Speaker John Boehner on Sunday said the House will not support bills to fully reopen the government or increase the U.S. debt ceiling unless the Obama administration agrees to talks aimed at reducing the deficit.
The Swissie was lower against the euro with EUR/CHF adding 0.25%, to hit 1.2293.
In the euro zone, official data showed that Germany's trade surplus widened more-than-expected in August, rising to EUR15.6 billion from an upwardly revised surplus of EUR15 billion the previous month.
Analysts had expected the trade surplus to widen to EUR15.1 billion in August.