Investing.com – The U.S. climbed against the Swiss franc on Wednesday, hitting an 8-day high ahead of a report on U.S. crude oil inventories and a speech by Federal Reserve Chief Ben Bernanke.
USD/CHF hit 1.0724 during European afternoon trade, its highest since April 9; the pair subsequently consolidated around 1.0714, gaining 0.26%. The pair was likely to find resistance at 1.0898, the high of Feb. 19, and support at 1.0435, the low of April 1.
Earlier Wednesday, Reuters reported that the Swiss National Bank's euro holdings soared in the first quarter, reflecting the extent of the central bank's interventions to fight the rise in the Swiss franc.
The Swissy also fell versus sterling on Wednesday, with GBP/CHF advancing 0.45% to reach 1.6486.
Later in the day, U.S. Federal Reserve Chairman Ben Bernanke was set to speak at an event in Washington, D.C. Traders were likely to scrutinize his comments for clues to future shifts in monetary policy.
USD/CHF hit 1.0724 during European afternoon trade, its highest since April 9; the pair subsequently consolidated around 1.0714, gaining 0.26%. The pair was likely to find resistance at 1.0898, the high of Feb. 19, and support at 1.0435, the low of April 1.
Earlier Wednesday, Reuters reported that the Swiss National Bank's euro holdings soared in the first quarter, reflecting the extent of the central bank's interventions to fight the rise in the Swiss franc.
The Swissy also fell versus sterling on Wednesday, with GBP/CHF advancing 0.45% to reach 1.6486.
Later in the day, U.S. Federal Reserve Chairman Ben Bernanke was set to speak at an event in Washington, D.C. Traders were likely to scrutinize his comments for clues to future shifts in monetary policy.