Forexpros - The broadly weaker U.S. dollar fell to a seven-week low against the Swiss franc on Thursday, after the minutes of the Federal Reserve’s August meeting indicated that the bank may be close to implementing a third round of easing measures. USD/CHF hit 0.9554 during European morning trade, the pair’s lowest since July 4; the pair subsequently consolidated at 0.9562, shedding 0.24%. The pair was likely to find support at 0.9523, the low of July 4 and resistance at 0.9588, the session high. The Fed minutes showed that many policymakers think additional easing may be warranted "fairly soon" unless there is evidence of a "substantial and sustainable" strengthening in the economic recovery. Concerns over prospects for a third round of stimulus from the U.S. central bank overshadowed weak economic data out of the euro zone and China. A report earlier showed that manufacturing activity in the euro zone improved in August, but remained in contraction territory for the 12th consecutive month, while service sector activity slumped to a two-month low. A separate report showed that manufacturing activity in China slumped to a nine-month low in August, adding to concerns over a slowdown in the world’s second largest economy. The Swissie was little changed against the euro, with EUR/CHF dipping 0.01% to 1.2009. Later Thursday, the U.S. was to release its weekly government report on initial jobless claims, followed by preliminary data on manufacturing activity and official data on new home sales.

Source