Investing.com – The U.S. dollar trimmed losses against the Swiss franc on Monday, rising from a 1-month low to which it sank on the back of upbeat data on industrial production in Switzerland.
USD/CHF hit 1.1376 during European afternoon trade, shedding 1.09%, after clawing back up from 1.135, its lowest since May 18. 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 soared versus the yen, with CHF/JPY gaining 1.34% to reach 80.76.
Also Monday, the St. Louis Federal Reserve Bank president, James Bullard, said a strong global economic recovery was underway and that it was unlikely to be derailed by Europe's debt crisis or the bursting of an asset bubble in China, boosting traders' risk appetite.
USD/CHF hit 1.1376 during European afternoon trade, shedding 1.09%, after clawing back up from 1.135, its lowest since May 18. 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 soared versus the yen, with CHF/JPY gaining 1.34% to reach 80.76.
Also Monday, the St. Louis Federal Reserve Bank president, James Bullard, said a strong global economic recovery was underway and that it was unlikely to be derailed by Europe's debt crisis or the bursting of an asset bubble in China, boosting traders' risk appetite.