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USD / CHF steady amid concern over debt crisis in the euro area

Written By Mody Mohammed Saad on May 10, 2012 | 4:30 AM

Remained the U.S. dollar steady against the Swiss franc on Thursday, after the central bank cut its European Qath of growth for the year 2012, amid continuing fears of political uncertainty in Greece, and the fear of a possible exit of Greece from the euro zone, boosting demand for safe haven.

USD / CHF 0.9263 in European morning trading in late, the lowest price for the day, and then later the coherence of the pair at 0.9287, down 0.03% ..

The husband was likely to find support at 0.9232, the lowest Msty on Wednesday and resistance at 0.9330, the highest price since March 14.
USD / CHF steady amid concern over debt crisis in the euro area


Sentiment came under pressure to reduce the European Central Bank forecast GDP growth for 2012 to minus 0.2% from minus 0.1%, in its monthly report, published earlier, and still downside risks to economic outlook.

At the same time, investors continued to control political developments in Greece, as the debt-ridden country that is struggling to form a coalition government after elections end of the week.

Alexis gave Tsepraz leader's second-largest party in Greece attempts to form a new government on Wednesday Wednesday, giving the leader of the Socialist Party Evangelos Venizelos last chance to try to form a government on Thursday.

And seemed to opportunities on the formation of a weak coalition government after two failed attempts, making new elections within three to four weeks are the most likely outcome, raising new fears that Greece will not have a government in a timely manner to secure the slide coming from international aid next month.

Elsewhere, the Swiss franc remained stable against the euro, with EUR / CHF rate of 0.02%, to record 1.2012.

Later in the day the U.S. will publish official data on trade balance, followed by government reports on jobless claims and rising import prices. It will also Federal Reserve Chairman Ben Bernanke to speak as well.
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