Investing.com – The U.S. dollar was lower against the Swiss franc on Thursday, stopping just short of Wednesday’s record low amid ongoing expectations that the U.S. Federal Reserve will keep monetary policy loose for longer.
USD/CHF hit 0.8558 during European morning trade, the daily low; the pair subsequently consolidated at 0.8588, shedding 0.33%.
The pair was likely to find support at 0.8551, Wednesday’s low and the all-time low and resistance at 0.8673, Tuesday’s high.
The greenback remained under pressure after data on Wednesday showing weaker-than-expected U.S. private sector employment growth and a slowdown in the service sector underlined expectations that the Federal Reserve will not raise interest rates for some time to come.
The Swiss franc has risen to a series of record highs against the dollar in recent months, as favorable Swiss economic conditions have added to expectations for rate hikes by the Swiss National Bank in the coming months.
The Swissie was also higher against the euro, with EUR/CHF dipping 0.10% to hit 1.2764.
Later in the day, the European Central Bank was to announce its minimum bid rate. Meanwhile, the U.S. was to publish official data on initial jobless claims. Also Thursday, Fed chair Ben Bernanke was to speak.
USD/CHF hit 0.8558 during European morning trade, the daily low; the pair subsequently consolidated at 0.8588, shedding 0.33%.
The pair was likely to find support at 0.8551, Wednesday’s low and the all-time low and resistance at 0.8673, Tuesday’s high.
The greenback remained under pressure after data on Wednesday showing weaker-than-expected U.S. private sector employment growth and a slowdown in the service sector underlined expectations that the Federal Reserve will not raise interest rates for some time to come.
The Swiss franc has risen to a series of record highs against the dollar in recent months, as favorable Swiss economic conditions have added to expectations for rate hikes by the Swiss National Bank in the coming months.
The Swissie was also higher against the euro, with EUR/CHF dipping 0.10% to hit 1.2764.
Later in the day, the European Central Bank was to announce its minimum bid rate. Meanwhile, the U.S. was to publish official data on initial jobless claims. Also Thursday, Fed chair Ben Bernanke was to speak.