Forexpros - The U.S. dollar pushed higher against the Swiss franc on Tuesday, as concerns over the ongoing sovereign-debt crisis in the euro zone supported demand for the relative safety of the greenback. USD/CHF hit 0.9675 during European morning trade, the session high; the pair subsequently consolidated at 0.9659, gaining 0.53%. The pair was likely to find support at 0.9558, the low of May 29 and near-term resistance at 0.9695, Monday’s high. The dollar strengthened broadly after Spain’s Treasury Minister Cristobal Montoro said that financial markets were effectively closed to Spain because of the current high level of the country’s borrowing costs. The yield on Spanish 10-year bonds has surged to euro-era highs in recent weeks, hovering near the critical 7% threshold, which is seen as unsustainable in the long term, fuelling fears that Madrid will be forced to seek an international bailout in order to shore up its ailing banking sector. Investor sentiment had improved earlier in the session, amid hopes for a breakthrough in tackling the debt crisis in the euro area, ahead of a teleconference of finance ministers from the Group of Seven industrialized nations later Tuesday. The Swissie was little changed against the euro, with EUR/CHF inching up 0.01% to hit 1.2010. Later Tuesday, the Institute for Supply Management was to release a report on U.S. non-manufacturing activity.

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