Forex - USD/CHF edges lower ahead of U.S. data

Investing.com - The U.S. dollar edged lower against the Swiss franc on Thursday, as renewed uncertainty over the future of the Federal Reserve's stimulus program weighed on demand for the greenback.

USD/CHF hit 0.9313 during European morning trade, the pair's lowest since August 13; the pair subsequently consolidated at 0.9336, falling 0.21%.
The pair was likely to find support at 0.9258, the low of August 13 and resistance at 0.9390, the high of August 2.

Demand for the greenback remained under pressure after data on Wednesday showed that U.S. producer price inflation was flat in July, while core inflation rose less-than-forecast.

The disappointing data raised fresh doubts over whether the economic recovery is strong enough for the Fed to begin unwinding its USD85 billion-a-month asset purchase program later this year.

The Swissie was fractionally lower against the euro with EUR/CHF edging 0.09% higher, to hit 1.2412.

Later in the day, the U.S. was to release reports on consumer inflation, jobless claims, industrial production and manufacturing data from the Empire state and the Philly Fed.

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