Investing.com - The U.S. dollar was higher against the Swiss franc in risk-off trade on Tuesday, as concerns over ongoing political uncertainty in Greece in the wake of weekend elections supported safe haven demand.
USD/CHF hit 0.9238 during European morning trade, the session high; the pair subsequently consolidated at 0.9237, gaining 0.35%.
The pair was likely to find support at 0.9194, the session low and resistance at 0.9270, Monday’s high and a two-month high.
Investors remained cautious amid concerns over political uncertainty in Greece after initial attempts by the country’ largest party, New Democracy, to form a new government collapsed on Monday, following weekend elections.
Greek political leaders were continuing to hold cross party talks amid fears that the country will not have a government in place in time to secure its next tranche of international aid next month, as new elections look increasingly likely.
Investors were also jittery amid concerns over new French president-elect, Socialist Francois Hollande who has said he wants to renegotiate the euro zone’s fiscal pact in order to stimulate growth in the region.
The Swissie was little changed against the euro, with EUR/CHF dipping 0.02% to hit 1.2011.
Later in the day, Germany was to release official data on industrial production, while European Central Bank President Mario Draghi was due to speak in Frankfurt.
USD/CHF hit 0.9238 during European morning trade, the session high; the pair subsequently consolidated at 0.9237, gaining 0.35%.
The pair was likely to find support at 0.9194, the session low and resistance at 0.9270, Monday’s high and a two-month high.
Investors remained cautious amid concerns over political uncertainty in Greece after initial attempts by the country’ largest party, New Democracy, to form a new government collapsed on Monday, following weekend elections.
Greek political leaders were continuing to hold cross party talks amid fears that the country will not have a government in place in time to secure its next tranche of international aid next month, as new elections look increasingly likely.
Investors were also jittery amid concerns over new French president-elect, Socialist Francois Hollande who has said he wants to renegotiate the euro zone’s fiscal pact in order to stimulate growth in the region.
The Swissie was little changed against the euro, with EUR/CHF dipping 0.02% to hit 1.2011.
Later in the day, Germany was to release official data on industrial production, while European Central Bank President Mario Draghi was due to speak in Frankfurt.