Investing.com - The U.S. dollar was hovering close to a one-month low against the Swiss franc on Wednesday, as dovish comments by Federal Reserve Chairman Ben Bernanke weighed, ahead of the release of U.S. manufacturing data later in the day.
USD/CHF hit 0.9015 during European late morning trade, the session low; the pair subsequently consolidated at 0.9033, shedding 0.22%.
The pair was likely to find support at 0.9015, the session low and a one-month low and short-term resistance at 0.9053, the session high.
On Tuesday, Fed Chairman Ben Bernanke said that it was still too early to declare victory in the U.S. economic recovery and added that the unemployment rate is still far too high.
The remarks came one day after the central bank head said further monetary accommodation is needed to bring about big gains in the U.S. jobs market, fanning speculation that the Fed may embark on a third round of monetary easing.
Elsewhere, market participants were looking ahead to a meeting of euro zone finance ministers on Friday, amid speculation that they would agree on a larger debt firewall to combat the debt crisis in the region.
The Swissie was fractionally lower against the euro, with EUR/CHF easing up 0.07% to hit 1.2060.
Later in the day, the U.S. was to produce official data on durable goods orders, as well as government data on crude oil stockpiles.
USD/CHF hit 0.9015 during European late morning trade, the session low; the pair subsequently consolidated at 0.9033, shedding 0.22%.
The pair was likely to find support at 0.9015, the session low and a one-month low and short-term resistance at 0.9053, the session high.
On Tuesday, Fed Chairman Ben Bernanke said that it was still too early to declare victory in the U.S. economic recovery and added that the unemployment rate is still far too high.
The remarks came one day after the central bank head said further monetary accommodation is needed to bring about big gains in the U.S. jobs market, fanning speculation that the Fed may embark on a third round of monetary easing.
Elsewhere, market participants were looking ahead to a meeting of euro zone finance ministers on Friday, amid speculation that they would agree on a larger debt firewall to combat the debt crisis in the region.
The Swissie was fractionally lower against the euro, with EUR/CHF easing up 0.07% to hit 1.2060.
Later in the day, the U.S. was to produce official data on durable goods orders, as well as government data on crude oil stockpiles.