Forex - USD/CHF Hits Daily Low As Fed Rate Outlook WeighsForexpros updated May 09, 2011TweetAt GET.com we maintain complete editorial integrity on our content & provide transparent & unbiased information. Companies don't pay us to include their products although we receive a compensation when you successfully apply to products from our partners. See how we make money here.At GET.com we maintain complete editorial integrity.Forex Pros – The U.S. dollar was lower against the Swiss franc in quiet trade on Monday, erasing gains from last week after better-than-expected U.S. jobs data gave the greenback a boost<br /><br />USD/CHF hit 0.8733 during European morning trade, the daily low; the pair subsequently consolidated at 0.8742, shedding 0.56%.<br /><br />The pair was likely to find support at 0.8554, Friday’s low and a record low and resistance at 0.8852, the high of April 26.<br /><br />Data on Friday showed that U.S. nonfarm payrolls rose by 244,000 in April, far outstripping the expected 185,000 forecast gain as the private sector posted the strongest employment gain in five years. <br /><br />But with the Federal Reserve seen as unlikely to raise interest rates for some time to come there is room for the franc to rise further.<br /><br />The Swiss franc has risen to a series of record highs against the dollar in recent months, as favorable Swiss economic conditions have added to expectations for rate hikes by the Swiss National Bank in the coming months.<br /><br />Meanwhile, the Swissie was down against the euro, with EUR/CHF climbing 0.30% to hit 1.2622.<br /><br />Earlier Monday, data showed that investor confidence in the euro zone unexpectedly declined this month.<br /><br />Editorial Disclosure: Any personal views and opinions expressed by the author in this article are the author's own and do not necessarily reflect the viewpoint of GET.com. The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities.