GBP/CHF posts highest close since January

FXStreet (Córdoba) – GBP/CHF rose for the fifth consecutive day and posted the highest close since the Swiss National Bank abandoned the EUR/CHF floor. The pair peaked on Thursday at 1.5177, the strongest level since March and then pulled back modestly trimming losses and is about to end the day, trading around 1.5130.

GBP/CHF consolidate above 1.50

Yesterday the pair posted a daily close above 1.5000 and today it confirmed a break of 1.5050, strengthening the bullish perspective. The pound was among the top performers on Thursday, boosting the pair but lost strength during the American session amid a decline of GBP/USD.

GBP/CHF is about to end July with a gain of 450 pips, on the back of increasing expectations about a possible rate hike by the Bank of England sooner that what it was previously expected as UK economic data remains positive.

GBP/CHF rose for the fifth consecutive day and posted the highest close since the Swiss National Bank abandoned the EUR/CHF floor. The pair peaked on Thursday at 1.5177, the strongest level since March and then pulled back modestly trimming losses and is about to end the day, trading around 1.5130.

(Market News Provided by FXstreet)