Forexpros – The U.S. dollar was almost unchanged against the Swiss franc on Thursday, as markets remained cautious ahead of the European Central Bank’s policy meeting later in the day.
USD/CHF hit 0.9254 during European morning trade, the daily high; the pair subsequently consolidated at 0.9237, inching up 0.01%.
The pair was likely to find support at 0.9138, the low of November 29 and resistance at 0.9329, the high of November 23.
The ECB was expected to announce a 0.25% interest rate cut, bringing the rate to a record low 1% in a bid to bolster faltering growth in the euro zone.
Meanwhile, uncertainty over the outcome of a two-day European Union summit beginning later in the day continued to weigh on market sentiment after Germany dampened expectations for a breakthrough.
France and Germany were to present a plan to amend EU treaties which would allow for greater fiscal integration and stricter enforcement of budgetary discipline in the single currency bloc, in a bid to stabilize regional bond markets and restore investor confidence in the euro zone.
Elsewhere, the Swissie was fractionally higher against the euro with EUR/CHF edging down 0.08%, to hit 1.2375.
Later in the day, the U.S. was to release official data on initial jobless claims.
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