USD / CHF steady amid the prospect of a new monetary incentives

 U.S. dollar remained steady against the Swiss franc on Monday, amid the likelihood of stimulus measures by the Federal Reserve Board, which put pressure on the dollar, while the statements led the Swiss National Bank President Thomas Jordan to put pressure on the Swiss franc.

USD / CHF hit 0.9542 during European afternoon trade, the lowest price for the day, the pair subsequently consolidated at 0.9548, shedding 0.02%.

The pair was likely to find support at 0.9501, the lowest price since August 31 and resistance at 0.9634, the highest price since Aug. 28.

The dollar remained under pressure after Bernanke said that the bank will act as needed to promote the recovery of the U.S. economy, but did not announce whether there will be a new round of quantitative stimulus Hafeez imminent.

Speaking at the annual symposium in Jackson Hole, Wyoming, said Fed Is Bernanke said the persistently high unemployment rate is a serious concern, "and added that Bank's Tisiralnkadi program was effective" in supporting the economic recovery.

Market awaits U.S. government data on non-farm payrolls on Friday, to see if the labor market has improved.

Continued demand for the euro, supported by expectations that the European Central Bank will Baagraouat monetary stimulus to help stabilize the markets in the euro zone before its next meeting on Thursday.


In Switzerland, purchasing managers index fell industrial sector to 46.7 from 48.6 in August from the previous month, compared with expectations for a reading of 49.0.

A separate report showed that retail sales rose less than expected in July at an annual rate of 3.2% after a 3.3% rise disappointing hopes expectations for a 4.3% rise.

The data came after the head of the Swiss bank reiterated its commitment to the defense of the roof franc, saying that "in the current situation, said the rise in the franc would be a very big threat to the Swiss economy, and will carry with it the risk of deflation."

Elsewhere, the Swiss franc was unchanged against the euro to trade at 1.2008.


Remain quiet trade on Monday, with no major economic data released in the calendar, while remaining markets in the United States closed for the Labor Day holiday.