Forex Pros – The U.S. dollar was down against the Swiss franc on Thursday, as concerns over tensions in the Middle East boosted safe haven flows into the franc.
USD/CHF hit 0.9596 during European morning trade, the daily low; the pair subsequently consolidated at 0.9564, shedding 0.31%.
The pair was likely to find support at 0.9448, the low of February 4 and resistance at 0.9738, Wednesday’s high.
Tensions between Israel and Iran, as well as continuing anti-government protests in the Middle East, dented risk appetite after Israel’s foreign minister said Wednesday that two Iranian warships planned to sail through the Suez Canal.
However, an official said on Thursday that the Suez Canal has been told that the plans to use the waterway were cancelled.
The Swissie was also up against the euro, with EUR/CHF shedding 0.27% to hit 1.2981.
Later in the day, the U.S. was to publish official data on consumer price inflation and initial jobless claims.
ForexPros.com
