Investing.com – The U.S. dollar edged higher against the Swiss franc on Monday, as fears over a slowdown in the rate of U.S. economic growth continued to weigh on the dollar.
USD/CHF hit 1.0414 during European morning trade, a daily high; the pair subsequently consolidated at 1.0397, gaining 0.19%.
The pair was likely to find support at 1.0332, last Friday's low and an 8-month low and resistance at 1.0541, the high of August 5.
On Friday U.S. official data showed that U.S. non-farm payrolls fell more-than-expected in July, as temporary government jobs created to conduct a national census ended. The data also showed that U.S. employers added 71,000 jobs in July, less than expected.
The data exacerbated fears that the economic recovery in the U.S. is stalling.
The Swissy was also down against the euro, with EUR/CHF gaining 0.02% to hit 1.3796.
Earlier in the day, it was reported that Switzerland is hoping to advance negotiations about a free trade agreement with China, the country's most important trading partner in Asia.
USD/CHF hit 1.0414 during European morning trade, a daily high; the pair subsequently consolidated at 1.0397, gaining 0.19%.
The pair was likely to find support at 1.0332, last Friday's low and an 8-month low and resistance at 1.0541, the high of August 5.
On Friday U.S. official data showed that U.S. non-farm payrolls fell more-than-expected in July, as temporary government jobs created to conduct a national census ended. The data also showed that U.S. employers added 71,000 jobs in July, less than expected.
The data exacerbated fears that the economic recovery in the U.S. is stalling.
The Swissy was also down against the euro, with EUR/CHF gaining 0.02% to hit 1.3796.
Earlier in the day, it was reported that Switzerland is hoping to advance negotiations about a free trade agreement with China, the country's most important trading partner in Asia.