Forex: USD/CHF rises in quiet European trading
_iNVEZZ.com Tuesday July 2nd:_ The Asian session today saw the USD/CHF at 0.9447 and subsequently, during a European session largely free of economic updates, the pair has risen to a current intraday high at 0.9484.
Following the latest US economic data yesterday, the greenback firmed against the franc and the pair rose to 0.9502, its highest price since June 4.
US Construction Spending data for May increased by 0.5 percent and reached its highest level in nearly four years.
The ISM Manufacturing PMI in June rose to 50.9 from May’s reading of 49.0, while the ISM Index of Manufacturing Prices reached 52.5 in June from 49.5 in the prior month.
The only Swiss data released yesterday was the SVME Swiss Purchasing Managers Index for June which fell to a seasonally adjusted 51.9 from May’s reading of 52.2.
Currently the pair is quoting at 0.9480, seeking to push to a new session high.