US dollar traded higher against the Swiss franc on Thursday, as demand for the greenback was supported in expectation of a short-term exit to FEDs Quantitative Easing.
USD/CHF cross hit a session high at 0.9499 at 7:41 GMT, after which consolidation followed at 0.9481. Support was expected to be found at June 28th low, 0.9412, while resistance was to be met at July 2nd, 0.9530.
Market players began focusing on the US non-farm payrolls report due on Friday, in search for clues about the future of FED’s stimulus policy. A report on Wednesday showed that the private sector in the United States added 188 000 job positions in June, more than expectations of an increase by 160 000.
Swiss franc was fractionally lower against the euro, as EUR/CHF cross added 0.08% to 1.2326. Later today the European Central Bank was expected to leave the base interest rate intact, following its policy meeting and to announce that an exit from the current loose monetary policy remains at distance.
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