Investing.com - The U.S. dollar trimmed losses against the Swiss franc on Wednesday, easing back from a two-week low as lingering concerns over the outlook for global growth weighed on risk appetite.
USD/CHF pulled away from 0.9078, the pair’s lowest since March 8, to hit 0.9105 during European morning trade, still down 0.13% on the day.
The pair was likely to find support at 0.9069, the low of March 8 and resistance at 0.9153, Tuesday’s high.
Concerns over a possible slowdown in growth in the world’s second largest economy lingered after global miner BHP Billiton said Tuesday that Chinese demand for iron ore was slackening, sparking concerns that commodity prices could decline.
Market sentiment was boosted slightly earlier after the March 20 deadline for Greece to avoid a default passed.
On Tuesday, Greece repaid EUR14.5 billion in maturing debt, just one day after receiving the first tranche of aid, under the terms of its second bailout. While last week’s debt restructuring deal had minimized the risk of a default, relief at the safe passage of the bond redemption buoyed investor sentiment.
The Swissie was steady against the euro, with EUR/CHF inching up 0.01% to hit 1.2057.
Later Wednesday, the U.S. was to release industry data on existing home sales.
USD/CHF pulled away from 0.9078, the pair’s lowest since March 8, to hit 0.9105 during European morning trade, still down 0.13% on the day.
The pair was likely to find support at 0.9069, the low of March 8 and resistance at 0.9153, Tuesday’s high.
Concerns over a possible slowdown in growth in the world’s second largest economy lingered after global miner BHP Billiton said Tuesday that Chinese demand for iron ore was slackening, sparking concerns that commodity prices could decline.
Market sentiment was boosted slightly earlier after the March 20 deadline for Greece to avoid a default passed.
On Tuesday, Greece repaid EUR14.5 billion in maturing debt, just one day after receiving the first tranche of aid, under the terms of its second bailout. While last week’s debt restructuring deal had minimized the risk of a default, relief at the safe passage of the bond redemption buoyed investor sentiment.
The Swissie was steady against the euro, with EUR/CHF inching up 0.01% to hit 1.2057.
Later Wednesday, the U.S. was to release industry data on existing home sales.