Investing.com – The U.S. dollar was up against the Swiss franc on Wednesday, rising to hit a fresh daily high, as the U.S. dollar strenghthened amid increased demand following Japan’s intervention in the currency market.
USD/CHF hit 1.0048 during European morning trade, a daily high; the pair subsequently consolidated at 1.0040, gaining 0.78%.
The pair was likely to find support at 0.9931, Tuesday’s low and the pair’s 9-month low, and resistance at 1.0206, the high of September 13.
Earlier in the day, the ZEW Centre for Economic Research said that its index of Swiss economic expectations fell to its lowest level in 14 months in September, declining to -5.1, after rising to 9.1 in August.
On the index, a level above 0.0 indicates optimism; a level below 0.0 indicates pessimism.
The Swissy was also down against the euro, with EUR/CHF gaining 0.64% to hit 1.3033.
Later in the day, the U.S. was to release key data on industrial production and manufacturing activity in New York State.
USD/CHF hit 1.0048 during European morning trade, a daily high; the pair subsequently consolidated at 1.0040, gaining 0.78%.
The pair was likely to find support at 0.9931, Tuesday’s low and the pair’s 9-month low, and resistance at 1.0206, the high of September 13.
Earlier in the day, the ZEW Centre for Economic Research said that its index of Swiss economic expectations fell to its lowest level in 14 months in September, declining to -5.1, after rising to 9.1 in August.
On the index, a level above 0.0 indicates optimism; a level below 0.0 indicates pessimism.
The Swissy was also down against the euro, with EUR/CHF gaining 0.64% to hit 1.3033.
Later in the day, the U.S. was to release key data on industrial production and manufacturing activity in New York State.