Forex - USD/CHF steady in subdued trade

The U.S. dollar was steady against the Swiss franc in subdued trade on Monday, amid ongoing expectations for a potential near-term end to the Federal Reserve's bond-buying program. 

USD/CHF hit 0.9592 during European morning trade, the session low; the pair subsequently consolidated at 0.9609, inching 0.01% lower. 

The pair was likely to find support at 0.9548, the low of May 13 and resistance at 0.9674, the high of May 14. 

The greenback remained supported after Fed Chairman Ben Bernanke said last week a decision to scale back the U.S. central bank’s USD85 billion-dollar-a-month asset purchase program could be taken in the "next few meetings" depending on economic data.

Meanwhile, Wednesday’s minutes from the U.S. central bank’s May meeting showed a "number" of policymakers were prepared to taper bonds purchases as soon as June. 

The Swissie was fractionally lower against the euro with EUR/CHFedging up 0.07%, to hit 1.2441. 

Trade volumes looked likely to remain thin on Monday with markets in the U.S. closed for the Memorial Day holiday.