Investing.com - The U.S. dollar was higher against the Swiss franc on Thursday, as uncertainty over the outcome of a bond swap deal between Greece and its creditors overshadowed successful French and Spanish debt auctions.
USD/CHF hit 0.9184 during European morning trade, the daily high; the pair subsequently consolidated at 0.9185, adding 0.34%.
The pair was likely to find support at 0.9114, Wednesday’s low and resistance at 0.9248, Wednesday’s high.
European officials have indicated in recent days that negotiations with Greece’s private creditors on a debt restructuring deal are almost concluded, but the second bailout and any public sector involvement must also be agreed upon before a deal can be announced.
Elsewhere, Spain’s Treasury auctioned EUR4.5 billion of medium term debt at much lower yields than previously.
Investors purchased EUR2.52 billion of three-year bonds at a yield of 2.8%, down from 3.38% in January and EUR1.05 billion of five-year bonds at a yield of 3.5%, compared to 5.5% last month.
Meanwhile, France auctioned EUR8 billion of government debt in an auction which met with solid investor demand and lower yields.
Sentiment briefly improved earlier after Chinese Prime Minister Wen Jiabao said China was considering greater involvement in the euro zone rescue fund, the European Financial Stability Facility, and its successor, the European Stability Mechanism.
The Swissie was trading close to a five-month high against the euro, with EUR/CHF rising 0.10%, to hit 1.2058.
The franc’s appreciation against the euro sparked speculation that the Swiss National Bank may choose to intervene once again in the foreign exchange market.
Later in the day, Federal Reserve Chairman Ben Bernanke was to testify before the House of Representatives budget committee. The U.S. was also to produce government data on initial jobless claims.
USD/CHF hit 0.9184 during European morning trade, the daily high; the pair subsequently consolidated at 0.9185, adding 0.34%.
The pair was likely to find support at 0.9114, Wednesday’s low and resistance at 0.9248, Wednesday’s high.
European officials have indicated in recent days that negotiations with Greece’s private creditors on a debt restructuring deal are almost concluded, but the second bailout and any public sector involvement must also be agreed upon before a deal can be announced.
Elsewhere, Spain’s Treasury auctioned EUR4.5 billion of medium term debt at much lower yields than previously.
Investors purchased EUR2.52 billion of three-year bonds at a yield of 2.8%, down from 3.38% in January and EUR1.05 billion of five-year bonds at a yield of 3.5%, compared to 5.5% last month.
Meanwhile, France auctioned EUR8 billion of government debt in an auction which met with solid investor demand and lower yields.
Sentiment briefly improved earlier after Chinese Prime Minister Wen Jiabao said China was considering greater involvement in the euro zone rescue fund, the European Financial Stability Facility, and its successor, the European Stability Mechanism.
The Swissie was trading close to a five-month high against the euro, with EUR/CHF rising 0.10%, to hit 1.2058.
The franc’s appreciation against the euro sparked speculation that the Swiss National Bank may choose to intervene once again in the foreign exchange market.
Later in the day, Federal Reserve Chairman Ben Bernanke was to testify before the House of Representatives budget committee. The U.S. was also to produce government data on initial jobless claims.