Investing.com – The U.S. dollar extended gains versus the Swiss franc on Wednesday, hitting a 2-week high after official data showed that new orders for U.S. durable goods rose for the third month running in February.
USD/CHF surged to 1.0715 during European afternoon trade, its highest rate since March 11; the pair subsequently consolidated around 1.0687, advancing 1.06%.
The pair was likely to find resistance at 1.0898, the high of Feb. 19, and support at 1.0131, the low of Jan. 11.
Earlier in the day, the U.S. Census Bureau said there was a 0.9% increase in new orders for manufactured durable goods orders in February, up from a drop of 1% in January. Economists had expected a rise of only 0.5%.
Meanwhile, the Swissy also bounced after hitting a fresh all-time low against the euro on Wednesday at 1.4232; EUR/CHF later reached 1.4279, still gaining 0.03%.
Also Wednesday, Thomas Jordan, the vice chairman of the Swiss National Bank's governing board, was set to deliver a speech in Bern titled, "Banking regulation: What went wrong? What will be better?"
USD/CHF surged to 1.0715 during European afternoon trade, its highest rate since March 11; the pair subsequently consolidated around 1.0687, advancing 1.06%.
The pair was likely to find resistance at 1.0898, the high of Feb. 19, and support at 1.0131, the low of Jan. 11.
Earlier in the day, the U.S. Census Bureau said there was a 0.9% increase in new orders for manufactured durable goods orders in February, up from a drop of 1% in January. Economists had expected a rise of only 0.5%.
Meanwhile, the Swissy also bounced after hitting a fresh all-time low against the euro on Wednesday at 1.4232; EUR/CHF later reached 1.4279, still gaining 0.03%.
Also Wednesday, Thomas Jordan, the vice chairman of the Swiss National Bank's governing board, was set to deliver a speech in Bern titled, "Banking regulation: What went wrong? What will be better?"