Investing.com - The U.S. dollar edged lower against the Swiss franc on Thursday, as market sentiment mildly improved but the greenback remained supported as debt problems in the euro zone continued to weigh.
USD/CHF hit 0.9144 during European morning trade, the daily low; the pair subsequently consolidated at 0.9165, falling 0.10%.
The pair was likely to find support at 0.9113, the low of March 6 and resistance at 0.9193, Wednesday’s high.
Market sentiment found support earlier after European Central Bank Executive Board member Benoit Coeure said Wednesday that the central bank still had its bond-buying program available as an option to ease pressure on the Spanish bond market.
He added that the current level of market pressure on Spain was not justified given the reforms being undertaken by its government.
Investors remained cautious however as Italy prepared to sell EUR5 billion of three-year government bonds later in the day, amid concern over the risk of sovereign debt contagion from Spain.
Elsewhere, the Swissie was fractionally higher against the euro with EUR/CHF edging down 0.06%, to hit 1.2020.
Later in the day, the U.S. was to produce official data on the trade balance and initial unemployment claims.
USD/CHF hit 0.9144 during European morning trade, the daily low; the pair subsequently consolidated at 0.9165, falling 0.10%.
The pair was likely to find support at 0.9113, the low of March 6 and resistance at 0.9193, Wednesday’s high.
Market sentiment found support earlier after European Central Bank Executive Board member Benoit Coeure said Wednesday that the central bank still had its bond-buying program available as an option to ease pressure on the Spanish bond market.
He added that the current level of market pressure on Spain was not justified given the reforms being undertaken by its government.
Investors remained cautious however as Italy prepared to sell EUR5 billion of three-year government bonds later in the day, amid concern over the risk of sovereign debt contagion from Spain.
Elsewhere, the Swissie was fractionally higher against the euro with EUR/CHF edging down 0.06%, to hit 1.2020.
Later in the day, the U.S. was to produce official data on the trade balance and initial unemployment claims.