Investing.com - The U.S. dollar was steady against the Swiss franc in subdued trade on Monday, as markets remained jittery amid sustained concerns over the outlook for global economic growth, although signs of improvement in Italy mildly supported sentiment.
USD/CHF hit 0.9316 during European morning trade, the session low; the pair subsequently consolidated at 0.9339, easing 0.01%.
The pair subsequently consolidated at 0.9276, the low of April 19 and resistance at 0.9434, the high of April 5.
Sentiment found some support after Italy re-elected President Giorgio Napolitano on Saturday, an important development as the country attempts to break an ongoing political deadlock.
Separately, Spanish Finance Minister Luis de Guindos said over the weekend that his country would be looking to balance growth, austerity and deficit reduction in its budget plans to be announced this week.
Meanwhile, investors remained focused on the yen, which weakened across the board after the Group of 20 nations said Japan's recent policy actions are aimed at beating deflation and not at competitively weakening the yen.
The Swissie was also steady against the euro with EUR/CHF inching 0.03% lower, to hit 1.2186.
Later in the day, the U.S. was to release private sector data on existing home sales.
USD/CHF hit 0.9316 during European morning trade, the session low; the pair subsequently consolidated at 0.9339, easing 0.01%.
The pair subsequently consolidated at 0.9276, the low of April 19 and resistance at 0.9434, the high of April 5.
Sentiment found some support after Italy re-elected President Giorgio Napolitano on Saturday, an important development as the country attempts to break an ongoing political deadlock.
Separately, Spanish Finance Minister Luis de Guindos said over the weekend that his country would be looking to balance growth, austerity and deficit reduction in its budget plans to be announced this week.
Meanwhile, investors remained focused on the yen, which weakened across the board after the Group of 20 nations said Japan's recent policy actions are aimed at beating deflation and not at competitively weakening the yen.
The Swissie was also steady against the euro with EUR/CHF inching 0.03% lower, to hit 1.2186.
Later in the day, the U.S. was to release private sector data on existing home sales.