Investing.com - The U.S. dollar rose to an eight-day high against the Swiss franc on Monday, as concerns ahead of Greece’s deadline to sign off on the terms of a new bailout supported safe haven demand.
USD/CHF hit 0.9263 during European morning trade, the pair’s highest since January 25; the pair subsequently consolidated at 0.9252, rising 0.76%.
The pair was likely to find support at 0.9175, the low of December 8 and resistance at 0.9311, the high of January 24.
Market sentiment came under pressure as Greek political leaders were to decide whether they accept the conditions laid out by the country’s international creditors by 11a.m. local time on Monday, in order to secure a EUR130 billion aid package.
Over the weekend Greek Prime Minister Lucas Papademos said coalition members had agreed on some conditions, but others still needed to be addressed.
Greece needs to secure an agreement with its private creditors on a debt swap deal in order to receive its next tranche of bailout funds in order to avoid a default when a EUR14.5 billion bond repayment comes due on March 20.
Elsewhere, the Swissie was higher against the euro with EUR/CHF retreating 0.16%, to hit 1.2063.
Also Monday, a report by Sentix showed that its investor confidence index for the euro zone improved more-than-expected in February, advancing to minus 11.1 from minus 21.1 the previous month.
Analysts had expected a reading of minus 14.8 in February.
USD/CHF hit 0.9263 during European morning trade, the pair’s highest since January 25; the pair subsequently consolidated at 0.9252, rising 0.76%.
The pair was likely to find support at 0.9175, the low of December 8 and resistance at 0.9311, the high of January 24.
Market sentiment came under pressure as Greek political leaders were to decide whether they accept the conditions laid out by the country’s international creditors by 11a.m. local time on Monday, in order to secure a EUR130 billion aid package.
Over the weekend Greek Prime Minister Lucas Papademos said coalition members had agreed on some conditions, but others still needed to be addressed.
Greece needs to secure an agreement with its private creditors on a debt swap deal in order to receive its next tranche of bailout funds in order to avoid a default when a EUR14.5 billion bond repayment comes due on March 20.
Elsewhere, the Swissie was higher against the euro with EUR/CHF retreating 0.16%, to hit 1.2063.
Also Monday, a report by Sentix showed that its investor confidence index for the euro zone improved more-than-expected in February, advancing to minus 11.1 from minus 21.1 the previous month.
Analysts had expected a reading of minus 14.8 in February.