Forexpros – The U.S. dollar was almost unchanged against the Swiss franc on Tuesday, as markets remained cautious ahead of a meeting of euro zone finance ministers later in the day.
USD/CHF hit 0.9244 during European morning trade, the daily high; the pair subsequently consolidated at 0.9226, edging up 0.05%.
The pair was likely to find support at 0.9084, the low of November 18 and resistance at 0.9329, the high of November 25.
Euro zone finance ministers were to meet later on Tuesday to approve detailed arrangements for scaling up the European Financial Stability Facility. They were also expected to release Greece’s next tranche of financial aid.
Safe haven demand remained supported following French media reports that Standard & Poor’s could downgrade France’s triple-A rating outlook to negative within days.
Elsewhere, ratings agency Moody’s warned that it could downgrade the subordinated debt of 87 banks across 15 European countries.
In Switzerland, a report by UBS bank showed that its consumption indicator eased up by 0.09 points to 0.91 in October from 0.82 the previous month. September’s figure had been revised down from 0.84.
The Swissie was fractionally lower against the euro with EUR/CHF rising 0.15%, to hit 1.2306.
Later in the day, the U.S. was to release industry data on house price inflation as well as a report on consumer confidence.
Forexpros
