Investing.com - The U.S. dollar was lower against the Swiss
franc on Tuesday, as investors remained focused on whether the
Federal Reserve will begin to unwind its stimulus program in the
USD/CHF hit 0.9294 during European morning trade, the pair's lowest
since June 7; the pair subsequently consolidated at 0.9288,
The pair was likely to find support at 0.9226, the low of June 6
and resistance at 0.9350, the session high.
Speculation that the U.S. central bank will begin to taper its
asset purchase program continued following last week's upbeat U.S.
jobs data and after ratings agency Standard & Poor's revised
its long-term outlook on the U.S. credit rating to stable from
negative on Monday, citing an improving economic outlook.
Earlier Tuesday, Switzerland's State Secretariat for Economics
revised growth forecasts for 2013 to 1.4% from 1.3% previously, but
warned that the debt crisis in the euro zone still posed the
greatest threat to the economy.
The Swissie was higher against the euro with EUR/CHF shedding
0.32%, to hit 1.2336.
Later in the day, Germany's Constitutional Court was to announce
the results of a ruling on the constitutionality of the European
Central Bank's bond buying scheme.
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