Investing.com - The U.S. dollar was lower against the Swiss franc on Monday, as investors eyed a meeting of European finance ministers in Brussels to discuss the terms of a proposed Greek debt restructuring deal later in the day.
USD/CHF hit 0.9334 during European morning trade, the daily low; the pair subsequently consolidated at 0.9318, retreating 0.27%.
The pair was likely to find support at 0.9266, the low of December 20 and resistance at 0.9399, the high of January 3.
On Sunday, Greece’s creditors said they had reached their maximum offer for a voluntary debt swop and said it was now up to the EU and the International Monetary Fund to agree on whether they can accept the deal.
The restructuring agreement is a precondition for Athens to receive its next tranche of bailout funds in order to avert a default when a EUR14.4 billion bond redemption comes due on March 20.
Elsewhere, the Bank of Spain said earlier it expects the country’s gross domestic product to contract by 1.5% in 2012, with a "modest recuperation" in 2013 of 0.2%.
Meanwhile, the Swissie was moderately higher against the euro with EUR/CHF easing 0.06%, to hit 1.2078.
Earlier in the session, trade was thin as financial markets remained closed in China, Hong Kong, South Korea, Taiwan and Singapore were closed to welcome in the Chinese Year of the Dragon.
USD/CHF hit 0.9334 during European morning trade, the daily low; the pair subsequently consolidated at 0.9318, retreating 0.27%.
The pair was likely to find support at 0.9266, the low of December 20 and resistance at 0.9399, the high of January 3.
On Sunday, Greece’s creditors said they had reached their maximum offer for a voluntary debt swop and said it was now up to the EU and the International Monetary Fund to agree on whether they can accept the deal.
The restructuring agreement is a precondition for Athens to receive its next tranche of bailout funds in order to avert a default when a EUR14.4 billion bond redemption comes due on March 20.
Elsewhere, the Bank of Spain said earlier it expects the country’s gross domestic product to contract by 1.5% in 2012, with a "modest recuperation" in 2013 of 0.2%.
Meanwhile, the Swissie was moderately higher against the euro with EUR/CHF easing 0.06%, to hit 1.2078.
Earlier in the session, trade was thin as financial markets remained closed in China, Hong Kong, South Korea, Taiwan and Singapore were closed to welcome in the Chinese Year of the Dragon.