Investing.com – The Swiss franc fell against the U.S. dollar on Tuesday, hitting a 2-day low ahead of a key report on U.S. consumer climate and testimony from the Federal Reserve chairman, Ben Bernanke.
USD/CHF jumped 0.57% to hit 1.0792 during European morning trade, its highest since Friday. The pair was likely to find resistance at 1.0898, the high of Feb. 19, and support at 1.0435, the low of April 1.
Earlier in the day, UBS data showed that Swiss consumers look set to increase spending in the coming months. The bank said its consumption index for Switzerland climbed to its highest level in March since the beginning the global economic crisis.
The Swissy also slumped against the yen on Tuesday, with CHF/JPY trading at 86.87, down 0.81%.
Later Tuesday, the Conference Board, a research group, was due to publish a closely watched index measuring U.S. consumer confidence. Bernanke, meanwhile, was set to testify before the National Commission on Fiscal Responsibility and Reform in Washington D.C.
USD/CHF jumped 0.57% to hit 1.0792 during European morning trade, its highest since Friday. The pair was likely to find resistance at 1.0898, the high of Feb. 19, and support at 1.0435, the low of April 1.
Earlier in the day, UBS data showed that Swiss consumers look set to increase spending in the coming months. The bank said its consumption index for Switzerland climbed to its highest level in March since the beginning the global economic crisis.
The Swissy also slumped against the yen on Tuesday, with CHF/JPY trading at 86.87, down 0.81%.
Later Tuesday, the Conference Board, a research group, was due to publish a closely watched index measuring U.S. consumer confidence. Bernanke, meanwhile, was set to testify before the National Commission on Fiscal Responsibility and Reform in Washington D.C.