Forex - USD/CHF hits 8-day high as Greek deadline nears
Investing.com
Published Feb 06, 2012 05:08AM ET
USD/CHF hit 0.9263 during European morning trade, the pair’s highest since January 25; the pair subsequently consolidated at 0.9252, rising 0.76%.
The pair was likely to find support at 0.9175, the low of December 8 and resistance at 0.9311, the high of January 24.
Market sentiment came under pressure as Greek political leaders were to decide whether they accept the conditions laid out by the country’s international creditors by 11a.m. local time on Monday, in order to secure a EUR130 billion aid package.
Over the weekend Greek Prime Minister Lucas Papademos said coalition members had agreed on some conditions, but others still needed to be addressed.
Greece needs to secure an agreement with its private creditors on a debt swap deal in order to receive its next tranche of bailout funds in order to avoid a default when a EUR14.5 billion bond repayment comes due on March 20.
Elsewhere, the Swissie was higher against the euro with EUR/CHF retreating 0.16%, to hit 1.2063.
Also Monday, a report by Sentix showed that its investor confidence index for the euro zone improved more-than-expected in February, advancing to minus 11.1 from minus 21.1 the previous month.
Analysts had expected a reading of minus 14.8 in February.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.