Investing.com – The Swiss franc soared against the U.S. dollar on Monday, hitting a 1-month high on the back of upbeat data on industrial production in Switzerland and amid hopes that the global recovery was gaining pace.
USD/CHF hit 1.1368 during early European trade, its lowest since May 18; the pair subsequently consolidated around 1.1379, shedding 1.07%.
The pair was likely to find support at 1.1151, the low of May 14, and resistance at 1.173, the high of June 1.
Earlier in the day, official data showed that Swiss producer prices rose unexpectedly in May.
In a report, the Swiss statistics agency said its producer price index, which measures the change in price of goods and raw materials purchased by manufacturers, rose 0.3% during the month, after an increase of 0.6% in April. Economists had expected the index to be flat in May.
Meanwhile, the Swissy was also surged versus the yen, with CHF/JPY gaining 1.42% to reach 80.83.
The Swissy's ascent against the Japanese currency came after a slightly disappointing report on Japanese industrial production.
USD/CHF hit 1.1368 during early European trade, its lowest since May 18; the pair subsequently consolidated around 1.1379, shedding 1.07%.
The pair was likely to find support at 1.1151, the low of May 14, and resistance at 1.173, the high of June 1.
Earlier in the day, official data showed that Swiss producer prices rose unexpectedly in May.
In a report, the Swiss statistics agency said its producer price index, which measures the change in price of goods and raw materials purchased by manufacturers, rose 0.3% during the month, after an increase of 0.6% in April. Economists had expected the index to be flat in May.
Meanwhile, the Swissy was also surged versus the yen, with CHF/JPY gaining 1.42% to reach 80.83.
The Swissy's ascent against the Japanese currency came after a slightly disappointing report on Japanese industrial production.