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Forex - USD/CHF almost unchanged ahead of U.S. data

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Investing.com -

Investing.com - The U.S. dollar was almost unchanged against the Swiss franc on Tuesday, as investors eyed the release of U.S. inflation data later in the day for further indications on the possible future path of the Federal Reserve's monetary policy.

USD/CHF hit 0.9078 during European early afternoon trade, the pair's highest since August 14; the pair subsequently consolidated at 0.9069, inching up 0.04%.

The pair was likely to find support at 0.9024, the low of August 15 and resistance at 0.9098, the high of August 13.

The dollar remained supported after a report on Monday showed that U.S. home builder sentiment rose unexpectedly in August, signalling underlying strength in the housing market.

The NAHB/Wells Fargo Housing Market index hit a seven-month high of 55, compared to expectations of an unchanged reading.

Meanwhile, market sentiment mildly improved amid fresh hopes that talks between Russia and Ukraine would result in a breakthrough to ease geopolitical tensions in the region.

The Swissie was little changed against the euro, with EUR/CHF dipping 0.06% to 1.2107.

Sentiment on the euro remained fragile after poor economic growth data last week added to pressure on the European Central Bank to implement fresh measures to shore up the faltering recovery in the region.

Later in the day, the U.S. was to release reports on building permits, housing starts and consumer inflation.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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