Frank moves in positive zone after strong Swiss data

Swiss frank rose in European data against the dollar, moving in a positive zone against a basket of major rivals following strong Swiss consumer prices and retail sales data.

Such data showcases the growing pressures on the Swiss National Bank, which hurt the odds of early Swiss interest rate cuts this year. 

Frank's Pricing

The dollar fell 0.2% against the Swiss frank to 0.8484, after plumbing a one-week high on Friday at 0.8576. 

Frank lost over 1% against dollar last week, the first weekly loss in the last month on profit-taking off 12-year peak at 00.8332. 

Strong Data

Earlier Swiss data showed consumer prices rose 1.7% y/y in December, above estimates of 1.5%, and up from 1.4% in November. 

Retail sales rose 0.7% in November, beating estimates of no change, and improving from October's 0.3% decline. 

Such data showcases growing inflationary pressures on the Swiss National Bank, which reduces the odds for early interest rate cuts this year.