USD/CHF climbed higher in light trade

US dollar was trading at higher levels against the Swiss franc on Monday, as the series of US data later in week was eyed amid the continuing lack of clarity over the future of Federal Reserve Bank’s stimulus.

USD/CHF reached its highest point during todays session at 0.9274 at 10:02 GMT, the highest level since August 6th, after which the pair consolidated at 0.9270. Support was likely to be found at August 9th low, 0.9191, while resistance was to be encountered at August 6th high, 0.9296.

The greenback showed weakness against most of its major peers last week, following the disappointing non-farm payrolls report on August 2nd, which stated economy added fewer than anticipated job positions during July. This made market players reassess their expectations, regarding the timing of Fed’s bond purchase pare back.

Tomorrow the United States was expected to release data on retail sales, index of import prices and business inventories.

In the mean time, the Federal Statistics Bureau in Switzerland reported earlier today that retail sales in the country rose for a third consecutive month in June. Sales increased by an annual rate of 2.3%, following the 1.5% climb, registered in May, which was a revision down from 1.8% previously. Initial estimates pointed an increase by 1.9%. Retail sales, excluding automobiles, rose by 2% in June, improving from a 1.6% climb in May. Sales of first necessities decreased by 1.3%, while sales, excluding the first necessity category, rose by 4% in June. In monthly terms, sales increased by 0.5% in June, completely neutralizing the recorded 0.3% drop during the preceding month. Retail sales, excluding fuel, added 0.3% during the same period.

Elsewhere, the franc was trading lower against the euro, as EUR/CHF cross added 0.20% to 1.2330 at 11:25 GMT. GBP/CHF pair was also on positive territory, gaining 0.38% to trade at 1.4356 at 11:26 GMT.