Investing.com - The U.S. dollar rose to fresh nine-month highs
against the Swiss franc on Friday, as Friday's comments by Federal
Reserve Chair Janet Yellen sent the greenback broadly higher.
USD/CHF hit 0.9180 during European late morning trade, the
pair's highest since November; the pair subsequently consolidated
at 0.9160, rising 0.25%.
The pair was likely to find support at 0.9104, Friday's low and
resistance at 0.9250.
Demand for the dollar was boosted after Fed Chair Janet Yellen
said on Friday that the U.S. economy is recovering and added the
labor market is improving as well.
Ms. Yellen was speaking at the Fed's annual meeting of top
central bankers and economists in Jackson Hole, Wyoming.
The Swissie was higher against the euro, with EUR/CHF shedding
0.28% to 1.2092.
In the euro zone, the German research institute Ifo said its
Business Climate Index fell to a more than one-year low of 106.3
this month, below forecasts for 107.0 and down from a reading of
108.0 in July.
The weak data dampened optimism over the health of the euro
zone's largest economy.
The euro also came under pressure after European Central Bank
President Mario Draghi told the Jackson Hole gathering on Friday
that the central bank is ready to take more unconventional action
if needed to stimulate a sluggish euro zone economy.
Later in the day, the U.S. was to release data on new home
offers an extensive set of professional tools for the financial
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