Shutterstock photo
Markets

Forex - USD/CHF steady amid U.S. optimism

Shutterstock photo

Shutterstock photo

Investing.com - The U.S. dollar was steady against the Swiss franc on Tuesday, as recent signs of an improving U.S. economic recovery continued to support demand for the greenback.

USD/CHF hit 0.9505 during European morning trade, the session high; the pair subsequently consolidated at 0.9476, edging up 0.05%.

The pair was likely to find support at 0.9418, the low of March 8 and resistance at 0.9526, Monday's high.

The dollar remained stronger after data on Friday showed that the U.S. economy added significantly more jobs than forecast in February, with the unemployment rate falling to a four-year low of 7.7%.

The robust data fuelled speculation over an earlier-than-expected end to the Federal Reserve's easing program.

The Swissie was higher against the euro with EUR/CHF shedding 0.23%, to hit 1.2329.

The single currency remained under pressure amid concerns over the economic outlook for the euro zone, while worries over ongoing political uncertainty in Italy also weighed.

Investing.com - Investing.com offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.

Read more News on Investing.com or Follow us on Twitter at @ Newsinvesting

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.

Other Topics

ForEx