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3 Mar 2015
GBP/CHF at fresh highs since SNB turmoil
FXStreet (Córdoba) - The GBP/CHF pair traded momentarily below 1.4700 during the Asian session but then bounced to the upside and recently reached 1.4783, for the first time since the Swiss National Bank removed the EUR/CHF cap.
The pound gained bullish momentum after the release of the Construction PMI in the UK that rose from 59.1 to 60.1 surpassing expectations. Earlier, growth data from the fourth quarter from Switzerland also was above market consensus but analysts are likely to wait for first quarter numbers, to show the impact of the Swiss franc appreciation.
GBP/CHF: strong gains in February
The pound had the best monthly performance in February against the Swissy since September 2011 (back when the EUR/CHF floor was announced), recovering more than 800 pips after the dramatic decline in January. GBP/CHF continues to move with a bullish bias, approaching the 1.50 area.
The pound gained bullish momentum after the release of the Construction PMI in the UK that rose from 59.1 to 60.1 surpassing expectations. Earlier, growth data from the fourth quarter from Switzerland also was above market consensus but analysts are likely to wait for first quarter numbers, to show the impact of the Swiss franc appreciation.
GBP/CHF: strong gains in February
The pound had the best monthly performance in February against the Swissy since September 2011 (back when the EUR/CHF floor was announced), recovering more than 800 pips after the dramatic decline in January. GBP/CHF continues to move with a bullish bias, approaching the 1.50 area.