Forex - USD/CHF edges higher, U.S. data in focus

The U.S. dollar edged higher against the Swiss franc in cautious trade on Thursday, amid ongoing uncertainty over the future of the Federal Reserve's stimulus program after recent upbeat U.S. housing data lent support to the greenback. 

USD/CHF hit 0.9392 during European morning trade, the pair's highest since July 23; the pair subsequently consolidated at 0.9381, adding 0.07%. 

The pair was likely to find support at 0.9390, the low of July 22 and resistance at 0.9416, the high of July 21. 

The greenback remained supported after official data on Wednesday showed that U.S. new home sales jumped to a five-year high in June, boosting expectations that the Federal Reserve will start to scale back its bond buying program later this year.

The Commerce Department said U.S. new home sales jumped 8.3% to a seasonally adjusted annual rate of 497,000 units, the highest level since May 2008. 

The Swissie was steady against the euro with EUR/CHF dipping 0.02%, to hit 1.2371. 

Also Thursday, data showed that the Ifo index of German business climate ticked up to 106.2 in July from 105.9 In June, slightly better than expectations for a reading of 106.1. 

Later in the day, the U.S. was to produce data on initial jobless claims and durable goods orders.