Investing.com - The U.S. dollar slipped lower against the Swiss franc on Wednesday, as sentiment slightly improved after a successful Italian bond auction, although demand for the safe haven greenback remained supported by worries over Italy's political deadlock.
USD/CHF hit 0.9290 during European morning trade, the session low; the pair subsequently consolidated at 0.9308, slipping 0.11%.
The pair was likely to find support at 0.9273, the low of February 21 and resistance at 0.9347, the high of January 22.
Italy sold EUR4 billion worth of ten-year debt at an average yield of 4.83%, up from 4.17% at a similar auction last month and EUR2.5 billion of five-year government bonds at an average yield of 3.59%, up from 2.94% in January.
The yield on Italian 10-year bonds stood at 4.84% following the auction, close to the highest levels since December.
Meanwhile, markets were jittery as investors awaited political developments in Italy, after general elections ended with no party in control of the Senate.
Investors were also looking ahead to a second day of Congressional testimony by Federal Reserve Chairman Ben Bernanke later in the trading day. Bernanke defended the bank's easing program on Tuesday, saying that the benefits outweighed the possible costs.
In Switzerland, the KOF research agency said its economic barometer fell to 1.03 in February from a reading of 1.12 the previous month, compared to expectations for a fall to 1.00.
The Swissie was lower agains the euro with EUR/CHF adding 0.12%, to hit 1.2186.
Later in the day, the U.S. was to publish official data on durable goods orders and pending home sales later Wednesday, while European Central Bank President Mario Draghi was to speak an event in Germany.
USD/CHF hit 0.9290 during European morning trade, the session low; the pair subsequently consolidated at 0.9308, slipping 0.11%.
The pair was likely to find support at 0.9273, the low of February 21 and resistance at 0.9347, the high of January 22.
Italy sold EUR4 billion worth of ten-year debt at an average yield of 4.83%, up from 4.17% at a similar auction last month and EUR2.5 billion of five-year government bonds at an average yield of 3.59%, up from 2.94% in January.
The yield on Italian 10-year bonds stood at 4.84% following the auction, close to the highest levels since December.
Meanwhile, markets were jittery as investors awaited political developments in Italy, after general elections ended with no party in control of the Senate.
Investors were also looking ahead to a second day of Congressional testimony by Federal Reserve Chairman Ben Bernanke later in the trading day. Bernanke defended the bank's easing program on Tuesday, saying that the benefits outweighed the possible costs.
In Switzerland, the KOF research agency said its economic barometer fell to 1.03 in February from a reading of 1.12 the previous month, compared to expectations for a fall to 1.00.
The Swissie was lower agains the euro with EUR/CHF adding 0.12%, to hit 1.2186.
Later in the day, the U.S. was to publish official data on durable goods orders and pending home sales later Wednesday, while European Central Bank President Mario Draghi was to speak an event in Germany.