Forex - USD/CHF higher after German ZEW

Investing.com - The U.S. dollar was higher against the Swiss franc on Tuesday, as market sentiment was lifted after strong German data on economic sentiment and relief that euro zone finance ministers have formally approved a second bailout for Greece.
 
USD/CHF hit 0.9200 during European morning trade, the session high; the pair subsequently consolidated at 0.9198, gaining 0.38%.
 
The pair was likely to find support at 0.9139, the session low and short-term resistance at 0.9217, Monday’s high and a three-week high.
 
The ZEW Centre for Economic Research said that its index of German economic sentiment advanced to the highest level since June 2010 this month, climbing to 22.3 compared to last month’s reading of 5.4.
 
Analysts had expected a reading of 10.5 in March.
 
The data came after a meeting of euro zone finance ministers meeting in Brussels gave their approval to "adjusted measures for Greece", rubber stamping a EUR130 billion bailout package.
 
But concerns over the debt crisis in the euro zone lingered as Spain faced calls from European leaders to make deeper budget cuts, after the country’s prime minister raised the deficit target earlier this month.
 
The greenback remained supported ahead of the Federal Reserve’s monetary policy statement later in the day, after upbeat non-farm payrolls data on Friday dampened expectations that the central bank will implement a third round of monetary easing.
 
In Switzerland, official data earlier showed that producer price inflation rose more-than-expected in February, climbing 0.8%, above expectations for a 0.3% gain.
 
The Swissie was almost unchanged against the euro, with EUR/CHF inching up 0.02% to hit 1.2059.
 
Later Tuesday, the U.S. was to release government data on retail sales and business inventories, while euro zone finance ministers were to continue talks in Brussels throughout the day.