Investing.com - The U.S. dollar was little changed against the Swiss franc on Wednesday, ahead of a vote on a measure to temporarily increase the U.S. debt ceiling later in the trading day.
USD/CHF hit 0.9347 during European morning trade, the session high; the pair subsequently consolidated at 0.9294, inching up 0.02%.
The pair was likely to find support at 0.9230, the low of January 9 and resistance at 0.9345, Tuesday’s high.
Republican leaders in the House of Representatives said they aim to pass on Wednesday a nearly four-month extension of the U.S. debt limit, allowing the government to borrow enough to meet its obligations during that period.
Failing to raise the debt ceiling by the end of February could lead to a first-ever U.S. default that could roil financial markets.
Market participants were also anticipating data on the ZEW index of Swiss economic expectations later Wednesday.
The Swiss franc was almost unchanged against the euro, with EUR/CHF dipping 0.04% to 1.2376.
Later Wednesday the U.S. was to release government data on crude oil stockpiles, while the World Economic Forum was to continue for a second day in Davos, Switzerland.
USD/CHF hit 0.9347 during European morning trade, the session high; the pair subsequently consolidated at 0.9294, inching up 0.02%.
The pair was likely to find support at 0.9230, the low of January 9 and resistance at 0.9345, Tuesday’s high.
Republican leaders in the House of Representatives said they aim to pass on Wednesday a nearly four-month extension of the U.S. debt limit, allowing the government to borrow enough to meet its obligations during that period.
Failing to raise the debt ceiling by the end of February could lead to a first-ever U.S. default that could roil financial markets.
Market participants were also anticipating data on the ZEW index of Swiss economic expectations later Wednesday.
The Swiss franc was almost unchanged against the euro, with EUR/CHF dipping 0.04% to 1.2376.
Later Wednesday the U.S. was to release government data on crude oil stockpiles, while the World Economic Forum was to continue for a second day in Davos, Switzerland.