Forex Pros – The U.S. dollar posted modest gains against the Swiss franc on Monday, amid optimism over progress in resolving Japan’s nuclear crisis, while the prospect of further intervention to keep the yen in check also weighed on the franc.
USD/CHF hit 0.9068 during European morning trade, the daily high; the pair subsequently consolidated at 0.9058, gaining 0.51%.
The pair was likely to find support at 0.8974, Friday’s low and resistance at 0.9197, last Wednesday’s high.
Earlier in the day, workers at the stricken Fukushima nuclear power plant, 155 miles north of Tokyo, managed to rig power cables to all six reactors at the complex and start a water pump at one.
Elsewhere Monday, crude oil prices rose after coalition forces, including the U.S., the U.K. and France, launched a second wave of air strikes on Libya in an attempt to remove loyalist support for leader Moammar Gadhafi and protect Libyan civilians from government forces.
The Swissie was also lower against the euro, with EUR/CHF climbing 0.38% to hit 1.2828.
Later in the day, the U.S. was to publish official data on existing home sales.
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