Investing.com - The U.S. dollar was lower against the Swiss franc on Tuesday, as demand for the greenback came under pressure ahead of the minutes of the Federal Reserve's latest meeting, amid ongoing uncertainty over the future of the bank's stimulus program.
USD/CHF hit 0.9182 during European morning trade, the pair's lowest since August 8; the pair subsequently consolidated at 0.9202, shedding 0.43%.
The pair was likely to find support at 0.9208, the low of August 8 and a seven-week low and resistance at 0.9286, Monday's high.
Investors were looking ahead to the minutes of the Fed's July meeting, due out on Wednesday, for further indications as to when the central bank may start to unwind its USD85 billion-a-month asset purchase program.
Expectations that the Fed may begin tapering as soon as next month were boosted after data last week showed that U.S. weekly jobless claims fell to an almost six year low.
The Swissie was steady against the euro with EUR/CHF inching 0.02% higher, to hit 1.2325.
Also Tuesday, official data showed that German producer price inflation dipped 0.1% in July from a month earlier and was 0.5% higher on a year-over-year basis.
Economists had forecast a 0.2% month-over-month increase and a 0.7% annual gain.
USD/CHF hit 0.9182 during European morning trade, the pair's lowest since August 8; the pair subsequently consolidated at 0.9202, shedding 0.43%.
The pair was likely to find support at 0.9208, the low of August 8 and a seven-week low and resistance at 0.9286, Monday's high.
Investors were looking ahead to the minutes of the Fed's July meeting, due out on Wednesday, for further indications as to when the central bank may start to unwind its USD85 billion-a-month asset purchase program.
Expectations that the Fed may begin tapering as soon as next month were boosted after data last week showed that U.S. weekly jobless claims fell to an almost six year low.
The Swissie was steady against the euro with EUR/CHF inching 0.02% higher, to hit 1.2325.
Also Tuesday, official data showed that German producer price inflation dipped 0.1% in July from a month earlier and was 0.5% higher on a year-over-year basis.
Economists had forecast a 0.2% month-over-month increase and a 0.7% annual gain.