Investing.com - The U.S. dollar steady against the Swiss franc on Monday, as investors locked in profits after the greenback gained ground amid expectations for the Federal Reserve to taper its stimulus program before the end of the year.
hit 0.9332 during European morning trade, the session low; the pair subsequently consolidated at 0.9339, easing 0.06%.
The pair was likely to find support at 0.9180, the low of June 19 and resistance at 0.9418, the high of June 10.
The greenback remained broadly supported after Fed Chairman Ben Bernanke said last Wednesday that the bank could begin tapering asset purchases by the end of 2013 if the economy continues to pick up.
But markets were jittery after the International Monetary Fund on Friday said it would not suspend Greek funding and said Athens has until July to come up with an agreement on its bailout program.
The comments came amid concerns over recent delays in the privatization plan Greece agreed to last year, which could threaten the country’s performance on economic reforms needed to secure bailout funding.
The Swissie was higher against the euro with slipping 0.10%, to hit 1.2251.
Also Monday, a report showed that the Ifo index of German business climate improved to 105.9 in June from 105.7 in May, in line with market expectations.