Investing.com – The U.S. dollar was trading in a tight range against the Swiss franc on Tuesday, swinging between small gains and losses as risk appetite was hit amid fears over euro zone sovereign debt and after a major artillery exchange on the Korean peninsula.
USD/CHF hit 0.9910 during European morning trade, the daily high, the pair subsequently consolidated at 0.9899, gaining 0.02%.
The pair was likely to find support at 0.9828, the low of November 16 and resistance at 0.9996, last Friday’s high.
On Monday, Irish Prime Minister Brian Cowan said that he would call a general election in the New Year after the Green party, the junior partner in the government, said it would withdraw its support from the increasingly unpopular minority coalition after the European Union/International Monetary Fund bailout package was in place.
The announcement stoked fears that the crisis which already engulfed Greece would spread to other indebted euro zone nations, such as Spain or Portugal.
Separately, media outlets in Seoul reported that North Korean artillery fired dozens of shells onto a South Korean island near the disputed sea border, prompting a return of fire by the South.
Speculation that China is to introduce further monetary tightening measures to curb inflation also weighed on sentiment.
Meanwhile, the Swissy was up against the euro, with EUR/CHF shedding 0.32% 1.3438.
Later Tuesday, the U.S. was to publish revised figures on third quarter GDP as well as data on existing home sales and manufacturing. In addition, the Federal Reserve was to publish the minutes of its November monetary policy meeting while the governor of the Swiss National Bank was to speak at a public engagement.
USD/CHF hit 0.9910 during European morning trade, the daily high, the pair subsequently consolidated at 0.9899, gaining 0.02%.
The pair was likely to find support at 0.9828, the low of November 16 and resistance at 0.9996, last Friday’s high.
On Monday, Irish Prime Minister Brian Cowan said that he would call a general election in the New Year after the Green party, the junior partner in the government, said it would withdraw its support from the increasingly unpopular minority coalition after the European Union/International Monetary Fund bailout package was in place.
The announcement stoked fears that the crisis which already engulfed Greece would spread to other indebted euro zone nations, such as Spain or Portugal.
Separately, media outlets in Seoul reported that North Korean artillery fired dozens of shells onto a South Korean island near the disputed sea border, prompting a return of fire by the South.
Speculation that China is to introduce further monetary tightening measures to curb inflation also weighed on sentiment.
Meanwhile, the Swissy was up against the euro, with EUR/CHF shedding 0.32% 1.3438.
Later Tuesday, the U.S. was to publish revised figures on third quarter GDP as well as data on existing home sales and manufacturing. In addition, the Federal Reserve was to publish the minutes of its November monetary policy meeting while the governor of the Swiss National Bank was to speak at a public engagement.