Sterling vs the Swiss Franc has continued to fall and at the moment it appears as though there is no end in sight for a Sterling recovery. The Swiss Franc is and always has been used as a safe haven currency and whilst the political uncertainty surrounding Article 50 continues we could see Sterling fall even further against the Swiss Franc.
Earlier on today ‘Marmite-gate’ has been causing big problems for the UK food industry with Tesco having now removed various Unilever products from its internet site. The argument has occurred owing to the fall in GBPUSD exchange rates which have fallen to their lowest level in 3 decades and the fall in exchange rates is now causing problems for ingredients that are imported and the issue is who will foot the bill-the consumer, retailer or supplier?
The Bank of England has hinted that it could cut interest rates at next month’s meeting and this could again cause problems for Sterling as clearly global investors are bypassing Sterling and investing in either the US Dollar or the Swiss Franc.
The main issue for Sterling is what is happening since the announcement as to when Article 50 will be triggered and until we have some form of resolution this is likely to weigh heavily on Sterling. Indeed, a legal challenge to the government’s right to begin the formal process of Brexit without the approval of parliament is currently under discussion at the High Court and we should get an answer by Monday/
Whilst all this uncertainty carries on I think we could see Sterling fall close to record lows against the Swiss Franc. Therefore, if you’re considering buying Swiss Francs it may be worth organising this sooner rather than later.
Having worked in the foreign exchange industry since 2003 I am confident not only of offering you better exchange rates than your bank but also help with the timing of your transfer.
If you need to buy or sell Swiss Francs and would like more information or for a free quote then contact me directly and I look forward to hearing from you
Tom Holian [email protected]