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Forex - USD/CHF rises in light trade, eyes on Ukraine

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Investing.com -

Investing.com - The U.S. dollar rose against the Swiss franc in light trade on Monday, as investors remained cautious amid ongoing tensions in Ukraine.

USD/CHF hit 0.9047 during European late morning trade, the session high; the pair subsequently consolidated at 0.9042, rising 0.20%.

The pair was likely to find support at 0.8980, the low of July 22 and resistance at 0.9086, the high of August 14.

Market participants continued to focus on developments in Ukraine following reports on Friday that the country's military attacked and destroyed a number of armored vehicles that entered the country from Russia.

Investors hoping that a meeting due to take place between Russian and Ukraine's foreign ministers later in the day would result in a breakthrough to ease geopolitical tensions in the region.

The Swissie was lower against the euro, with EUR/CHF adding 0.10% to 1.2106.

Later in the day, the U.S. was to produce private sector data on the housing market.

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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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