Investing.com – The Swiss franc fell against the U.S. dollar on Tuesday, dropping from the previous day's 1-month high after a downgrade of Greece's credit rating rekindled fears over Europe's sovereign debt crisis.
USD/CHF hit 1.1479 during early European trade, a daily high; the pair subsequently consolidated around 1.1463, gaining 0.35%.
The pair was likely to find resistance at 1.173, the high of June 1, and support at 1.1267, the low of May 18.
On Monday, Moody's Investor services said it was cutting Greece's government bond ratings by four notches to Ba1 from A3, with a stable outlook for the next 12-18 months.
Meanwhile, traders awaited a key report on economic sentiment in Germany by the ZEW research center. The report on the largest economy in the euro zone, Switzerland's biggest trading partner, was expected to show that German investor confidence has improved.
The Swissy also slumped versus the yen on Tuesday, with CHF/JPY sliding 0.71% to reach 79.59.
Later in the day, the Federal Reserve Bank of New York was due to publish key data manufacturing activity in New York state.
The U.S. Treasury was also due to publish its TIC Long-Term purchases report, which measures the difference in value between foreign long-term securities purchased by U.S. citizens and U.S. long-term securities purchased by foreigners.
USD/CHF hit 1.1479 during early European trade, a daily high; the pair subsequently consolidated around 1.1463, gaining 0.35%.
The pair was likely to find resistance at 1.173, the high of June 1, and support at 1.1267, the low of May 18.
On Monday, Moody's Investor services said it was cutting Greece's government bond ratings by four notches to Ba1 from A3, with a stable outlook for the next 12-18 months.
Meanwhile, traders awaited a key report on economic sentiment in Germany by the ZEW research center. The report on the largest economy in the euro zone, Switzerland's biggest trading partner, was expected to show that German investor confidence has improved.
The Swissy also slumped versus the yen on Tuesday, with CHF/JPY sliding 0.71% to reach 79.59.
Later in the day, the Federal Reserve Bank of New York was due to publish key data manufacturing activity in New York state.
The U.S. Treasury was also due to publish its TIC Long-Term purchases report, which measures the difference in value between foreign long-term securities purchased by U.S. citizens and U.S. long-term securities purchased by foreigners.