GBP/CHF hits monthly highs above 1.5500

FXStreet (Córdoba) - The pound is rising against the Swiss franc for the sixth trading day in a row. GBP/CHF climbed back above 1.5500 and reached at 1.5528, the highest price since October 1, just one pip above the previous monthly high. Currently the pair is hovering around 1.5500 after retreating from the highs.

The Swiss franc turned sharply to the downside after the European Court of Justice ruling in favor of the European Central Bank purhcase programan (OMT) and then gained some strength after the release of Industrial Production data from the Eurozone, that showed an increase of 0.2% in november; analysts were expecting a flat reading.

The GBP/CHF pair has risen almost 200 pips from yesterday’s low on the back of a stronger pound and a weak franc. While USD/CHF trades above 1.0200 at the highest in years, the pound reached a 1-week highs versus the US dollar.