Investing.com - The U.S. dollar was steady against the Swiss franc on Thursday, as sentiment on the greenback was hit by speculation that the Federal Reserve could be considering more easing to help shore up growth in the world’s largest economy.
USD/CHF pulled back from 0.9578, the session high, to hit 0.9543 during European morning trade, up just 0.01%.
The pair was likely to find support at 0.9463, the low of May 23 and resistance at 0.9577, the session high.
Market participants were looking ahead to testimony by Fed Chairman Ben Bernanke later in the day, after last week’s disappointing U.S. nonfarm payrolls data fuelled expectations for a third round of quantitative easing by the U.S. central bank.
Speaking Wednesday, Fed Vice-Chairman Janet Yellen outlined the case for more easing as financial turmoil mounts in the euro zone and the U.S. employment and housing sectors remain weak.
Market sentiment was also buoyed by indications that European leaders are stepping up efforts to tackle Spain's banking crisis.
Earlier Thursday, Spain’s Treasury successfully sold EUR2.07 billion of bonds, slightly more than the targeted amount, in an auction which met with solid investor demand, but saw borrowing costs rise.
The auction was viewed as a critical test of investor appetite for the country’s debt, coming just days after Spain warned that it was having difficulty accessing credit markets.
The Swissie was little changed against the euro, with EUR/CHF inching up 0.05% to hit 1.2012.
Also Thursday, government data showed that consumer price inflation in Switzerland was flat in May, against expectations for a 0.1% increase.
USD/CHF pulled back from 0.9578, the session high, to hit 0.9543 during European morning trade, up just 0.01%.
The pair was likely to find support at 0.9463, the low of May 23 and resistance at 0.9577, the session high.
Market participants were looking ahead to testimony by Fed Chairman Ben Bernanke later in the day, after last week’s disappointing U.S. nonfarm payrolls data fuelled expectations for a third round of quantitative easing by the U.S. central bank.
Speaking Wednesday, Fed Vice-Chairman Janet Yellen outlined the case for more easing as financial turmoil mounts in the euro zone and the U.S. employment and housing sectors remain weak.
Market sentiment was also buoyed by indications that European leaders are stepping up efforts to tackle Spain's banking crisis.
Earlier Thursday, Spain’s Treasury successfully sold EUR2.07 billion of bonds, slightly more than the targeted amount, in an auction which met with solid investor demand, but saw borrowing costs rise.
The auction was viewed as a critical test of investor appetite for the country’s debt, coming just days after Spain warned that it was having difficulty accessing credit markets.
The Swissie was little changed against the euro, with EUR/CHF inching up 0.05% to hit 1.2012.
Also Thursday, government data showed that consumer price inflation in Switzerland was flat in May, against expectations for a 0.1% increase.