Investing.com - The U.S. dollar slipped lower against the Swiss franc on Wednesday, but remained supported as sustained concerns over the outlook for global economic growth weighed on market sentiment.
USD/CHF hit 0.9309 during European morning trade, the session low; the pair subsequently consolidated at 0.9309, edging down 0.18%.
The pair was likely to find support at 0.9268, the low of April 15 and resistance at 0.9366, the high of April 9.
Market sentiment remained under pressure after the International Monetary Fund cut its forecast for global growth for 2013 and 2014 on Tuesday.
The IMF said continued monetary stimulus by the Federal Reserve and the Bank of Japan was expected to continue to support growth in the U.S. and Japan, while the euro zone still posed the greatest threat to a recovery in the global economy.
The Swissie was steady against the euro with EUR/CHF inching up 0.01%, to hit 1.2156.
Sentiment on the euro remained vulnerable after European Central Bank Governing Council member Jens Weidmann said Wednesday that the bank could cut interest rates if economic data indicated that it was warranted.
USD/CHF hit 0.9309 during European morning trade, the session low; the pair subsequently consolidated at 0.9309, edging down 0.18%.
The pair was likely to find support at 0.9268, the low of April 15 and resistance at 0.9366, the high of April 9.
Market sentiment remained under pressure after the International Monetary Fund cut its forecast for global growth for 2013 and 2014 on Tuesday.
The IMF said continued monetary stimulus by the Federal Reserve and the Bank of Japan was expected to continue to support growth in the U.S. and Japan, while the euro zone still posed the greatest threat to a recovery in the global economy.
The Swissie was steady against the euro with EUR/CHF inching up 0.01%, to hit 1.2156.
Sentiment on the euro remained vulnerable after European Central Bank Governing Council member Jens Weidmann said Wednesday that the bank could cut interest rates if economic data indicated that it was warranted.