US dollar came off session highs against the Swiss franc on Monday, following optimistic data, regarding Swiss unemployment rate and industrial production.
USD/CHF hit a session high at 0.9666 at 5:00 GMT, as at 9:09 GMT the cross was trading at 0.9644, still up by 0.11% for the day. Support was expected at 0.9625, while resistance was to be encountered in the range of 0.9665-0.9685.
Earlier on Monday an official report by the Federal Statistical Office (FSO) said, that Unemployment rate in Switzerland, with seasonal adjustments applied, remained without change at 3.2% in June, compared to May and meeting preliminary estimates as well. Additionally, a separate report showed Swiss industrial production increased by 3.0% during the first three months of this year, compared to Q4 2012, surpassing the estimated 1.4% rise.
Meanwhile, US dollar remained strong, following the report by the Department of Labor in the United States, which stated economy added 195 000 job positions in June, more than the expected increase by 165 000. At the same time, Unemployment rate remained unchanged at 7.6% in the month of June in comparison with May. These figures gave strength to expectations of a near-term bond purchase tapering by the Federal Reserve Bank.
Elsewhere, the franc retreated against the euro, as EUR/CHF cross added 0.23% to 1.2888 at 9:24 GMT. GBP/CHF pair also increased, up by 0.13% to 1.4373 at 9:28 GMT.
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