Forex Pros –The U.S. dollar trimmed gains against the Swiss franc on Monday, but remained close to the all-time low, ahead of a critical Greek parliamentary vote on austerity measures.
USD/CHF pulled away from 0.8384, the daily high, to hit 0.8337 during European morning trade, still up 0.14% on the day.
The pair was likely to find short-term support at 0.8310, Friday’s low and the pair’s record low and resistance at 0.8437, the high of June 23.
Greek Prime Minister George Papandreou will need to get parliamentary approval for a EUR28.4 billion austerity package on Wednesday, in order to avert a sovereign debt default by securing a EUR12 billion bailout from the European Union and the International Monetary Fund.
On Sunday, Greece’s deputy Prime Minister Theodoros Pangalos warned that the Greek parliament may block some of the economic reforms, but added that lawmakers will probably approve an overall austerity package to stave off a default.
The Swissie was also lower against the euro, with EUR/CHF rising 0.21% to hit 1.1852.
Later Monday, the U.S. was to publish official data on personal earnings and expenditure as well as data on the consumer price index.
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