Investing.com – The U.S. dollar pared gains versus the Swiss franc on Tuesday, after hitting a 2-day high amid worries over a massive EU rescue package to combat the debt crisis that has engulfed the euro zone.
USD/CHF hit 1.1133 during late Asian trade, the pair's highest since Friday; the pair subsequently consolidated around 1.1103, gaining 0.03%. The pair was likely to find resistance at 1.1245, the high of May 6, and support at 1.0923, Monday's low.
The Swissy's decline versus the greenback came despite an upbeat report on consumer sentiment in Switzerland. Earlier in the day, an official report showed that Swiss consumer confidence jumped far higher than expected in the first quarter.
Meanwhile, the Swissy jumped versus the euro, with EUR/CHF dropping 0.63% to reach 1.4099.
Later Tuesday, the U.S. Census Bureau was set to publish data on wholesale inventories, a signal of future business spending. Also Tuesday, a research group, the TechnoMetrica Institute of Policy and Politics, and a newspaper, Investor's Business Daily, were due to release a report on U.S. consumer confidence.
USD/CHF hit 1.1133 during late Asian trade, the pair's highest since Friday; the pair subsequently consolidated around 1.1103, gaining 0.03%. The pair was likely to find resistance at 1.1245, the high of May 6, and support at 1.0923, Monday's low.
The Swissy's decline versus the greenback came despite an upbeat report on consumer sentiment in Switzerland. Earlier in the day, an official report showed that Swiss consumer confidence jumped far higher than expected in the first quarter.
Meanwhile, the Swissy jumped versus the euro, with EUR/CHF dropping 0.63% to reach 1.4099.
Later Tuesday, the U.S. Census Bureau was set to publish data on wholesale inventories, a signal of future business spending. Also Tuesday, a research group, the TechnoMetrica Institute of Policy and Politics, and a newspaper, Investor's Business Daily, were due to release a report on U.S. consumer confidence.