COZforex: The US dollar fell to two-and-a-half week lows on Thursday, after the release of upbeat Swiss economic growth data, while the US dollar's weakness against the yen led the greenback lower against all the other major currencies.

USD/CHF hit 0.9566 amid European morning trade, the pair's lowest since May 14; the pair subsequently consolidated at 0.9578, sliding 0.45%. Coz forex senior derivatives trader Daniel Moloney said, USD/CHF is predicted to find support at 0.9532, and a drop through could take it to the next support line of 0.9466. Meanwhile, the pair is predicted to find its first resistance at 0.9727, and a rose through could take it to the next resistance line of 0.9856.

On the Swiss economic front, the UBS consumption indicator advanced to a reading of 1.46 in April.

Official data showed that Switzerland's gross domestic product rise 0.6% in the first quarter, beating expectations for a 0.2% increase, after a 0.3% rose in the previous quarter.

Meanwhile, investors were looking ahead to the weekly US report on jobless claims later in the global day amid ongoing speculation over whether the Fed is moving closer to scaling back its USD85 billion-a-month asset purchase program.

The euro remained under pressure during speculation on whether the European Central Bank will implement negative interest rates on deposits following recent comments by senior bank officials.

In Switzerland, the scheduled annual gross domestic product data is forecast to show a drop in the Q12013. Later in the day, the US was to release data on pending home sales.


(COZ forex UK)