Forexpros – The U.S. dollar edged higher against the Swiss franc on Wednesday, as uncertainty over measures to tackle the debt crisis in the euro zone supported safe haven demand.
USD/CHF hit 0.9002 during late European morning trade, the daily high; the pair subsequently consolidated at 0.8963, rising 0.16%.
The pair was likely to find support at 0.8789, the low of September 20 and resistance at 0.9086, the high of September 23.
Hopes for decisive action against the euro zone debt crisis were dampened amid reports of divisions within the single currency bloc over the terms of Greece’s second EUR109 bailout tranche.
Elsewhere, Finland’s parliament was to vote on expanding the role of the European Financial Stability Facility later in the day, while Germany’s parliament was to vote on Thursday.
Meanwhile, European Commission President Jose Manuel Barroso indicated earlier that Greek banks could potentially receive more help. The statement followed the approval by Greece’s parliament of a new property-tax law, a key step for the country to avoid a possible default.
Elsewhere, the Swissie was down against the euro with EUR/CHF gaining 0.33%, to hit 1.2206.
Later in the day, a U.S. report on durable goods orders was to be released, while Federal Reserve Chairman Ben Bernanke was also scheduled to speak.
Swiss National Bank Governing Board member Thomas Jordan was also due to speak later Wednesday.
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