Dollar falls against Swiss franc as US Treasury yields dip

ForexNewsNow | Published on December 9, 2010 at 4:25 am

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NEW YORK (Forex News Now) – The greenback fell against the Swiss franc on Thursday, as US bond yields appeared to have reached their peak.

In early European currency market trading, USD/CHF hit 0.9846 at around 9:15 A.M., GMT, down 0.17% on the day.

Ten-year U.S. Treasury yields dipped on Thursday after surging by 23 basis points the previous day, leading investors to believe that dumping of US bonds may have reached its peak, and dampening the attraction of the dollar.

According to USD/CHF analysis, the dollar was likely to touch support around Monday’s low of 0.9725, and encounter resistance around the high of Dec. 3, 0.9950.

The dollar’s fall also came as the US Department of Labor was set to release weekly figures on the number of new jobless claims, traditionally an important indicator of overall economic health.

Elsewhere, the greenback took a pounding against the Australian dollar: AUD/USD traded 0.9863, up 0.68% on the day.



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