Tag Archives: swiss
So after poor GDP figures and indeed poor data all round in January.. Where next for the Pound? Have the Bank of England tried to get a head start in the so called ‘currency wars’ we may be due to encounter? (Daniel Wright)
The Pound has quite frankly had an awful start to the year with poor services and manufacturing data, retail sales and GDP figures being some of the most notable causes towards Sterlings current downward trend. We have seen major stores finding trouble which will only knock unemployment down further and confidence in the Pound is extremely low at present.
Some of the great gains we made against most majors in the last quarter of last year have already been wiped out and the ‘safe haven’ status of Sterling does not appear to be on any investors lips for the time being. Ever the optimist I personally feel we will recover however how long it takes is the million Dollar question right now.
Head of the Bank of England Mervyn King has already commented that he expects so called currency wars to happen in the future and I think all this doom and gloom for the U.K is giving us a head start before others get to make a move. I think the reason currency wars may come into play is because with certain currencies such as the Australian Dollar and Swiss Franc being so strong it will no doubt start to take an effect on exports and this can slowly start to damage an economy over time. What we may see in the coming month and potentially even years is monetary policies across the globe trying to counter act this problem, we have already seen the Swiss National Bank peg the CHF against the Euro and the Reserve Bank of Australia are seemingly happy to keep cutting interest rates (this generally will weaken a currency).
All in all we are set for an extremely volatlile year and the Pound needs something to start moving through the gears and gaining some strength again and the fact that triple dip recession will now be on the front page of every newspaper certainly will not help!
It is times like these that you need someone proactive on your side if you have a currency transfer to carry out in the near future. I assist clients carrying out transfers amounting from £1000 to mulit million Pound transactions and can help you not only with the timing of your transfer but also by getting you a much better rate of exchange than you can get elsewhere… I have had over 2000 people contact me through this site and at I can count how many I could not save money over their current provider on two hands.
If you find my information of use then please do feel free to contact me directly, you can email me djw@currencies.co.uk, fill in the enquiry form on this page or call us on the numbers above during office hours. If you would like regular updates on currency then also feel free to join our mailing list. We look forward to hearing from you!
A new year and a new look for Pound Sterling Forecast – What has happened while we have been away?? (Daniel Wright)
Well as expected the Fiscal cliff episode did go down to the wire and will now probably still be spoken about for a while before we hear the end of it – What did it do to the currency markets?
Essentially it increased global attitude to risk (this was shown in the sharp rise in share prices today) which also led to investors pulling out of the ‘safer haven’ of the Dollar and pushing funds into the riskier currencies such as the Australian and New Zealand Dollar.
With this we saw a fairly sharp drop in the value of the Dollar and Swiss Franc making them cheaper to buy and a surge in strength for both the AUD and NZD. The Sterling/Euro pairing has spent the day not really knowing which way to head jumping between the mid 1.23s down to the late 1.22s over the course of the day.
In this current market you either have to have an eye on the rate all the time or you need someone to do this job for you, as the cost of your purchase can change sharply in a matter of minutes and you may get a nasty surprise when you come to purchase or sell your chosen currency.
We can help you with this, a large part of our service includes monitoring the markets on your behalf and we have a range of tools to protect you from adverse market movements such as stop loss and limit orders – Feel free to get in touch and ask how these work , they aren’t as daunting as they may sound!
If you would like an experienced currency broker on your side for any upcoming purchases either large or small for a private individual or a company then feel free to contact me directly by emailing me on djw@currencies.co.uk or by filling in the enquiry form on this page – I will personally get back to every email I receive and please do not think that we are too big for any of you – We are more than happy to help whatever your situation but we do not deal in travel money or cash.
We also have a mailing list on this page so feel free to fill in your email address and you will get my weekly currency updates.
Personally I feel the U.K may see some fairly good data releases this month so the Pound could be in for a good run – However as always the on-going European crisis and Fiscal cliff could easily turn things upside down at any time!
Happy new year to all of my regular readers and I wish you all a fantastic 2013!
Sterling set for a tough week? Pound Sterling Forecast against a basket of currencies inclusive of Euro, Dollar, Canadian Dollar, Australian Dollar, New Zealand Dollar, Swiss Franc and South African Rand
The Pound may be set for a tough week this week with numerous data releases out including our Public Sector Net Borrowing figures, Mortgage Approval Data and GDP (Gross Domestic Product) figures.
Today is fairly quiet on the data front however don’t be surprised if the Europeans throw a spanner into the works as quite honestly they could release absolutely anything at absolutely any time and this could affect all major currencies as it will effect investors attitude to risk and as regular readers will be aware investor’s attitude to risk can lead to quite a bit of market volatility. Should we see more bad news from Europe then you would imagine attitude to risk will suffer and the Dollar will benefit being a safe haven whilst the riskier currencies may weaken.
Should all stay quiet on the European front then the Dollar may weaken back a little and the riskier currencies such as AUD, NZD and ZAR could continue their push back against Sterling. Of course any major economic releases that are much better or worse than expected may counter act this.
For the Pound this week the action starts Tomorrow morning with Public Sector Net Borrowing, this data is essentially an indication as to how much new debt the U.K Government has obtained over the course of the month, a negative figure suggests that the U.K holds surplus, which may be seen as positive for the U.K and indeed the Pound. Of course if borrowing figures are up then the Pound may well take a further hit.
Wednesday brings us the U.K mortgage approval data which suggests how well, or badly the U.K housing market is performing, a lower figure is once again seen as a negative yet a rise in mortgage approvals can be seen as a positive, especially in the current climate!
Thursday has the potential to be the most volatile of days as we see GDP (Gross Domestic Product) figures for the U.K which have been fairly poor of late and expectations are that the figure may not have changed by much. Personally I see a fairly flat week for the Pound with the potential to have a couple of fairly poor days should data releases be worse than expected.
If you have a currency transfer to carry out it may be prudent to consider your options and ensure that you have a proactive currency broker on your side. If you currently do not use a currency broker or you feel you could get a better price or level of service than you are currently getting then by all means feel free to email me directly and I will be happy to personally help you for any currency transfer from £1000 to multi million Pound transactions. I can be reached on djw@currencies.co.uk and i look forward to hearing from you.
Swiss Franc Forecast – CHF no longer the safe haven it was?
The Swiss Franc had benefited extremely well throughout the global economic crisis, however since the lows of 1.17 seen
against the Pound the tide appears to be slowly turning back.
Rates at present are roughly around 1.50 and it appears that the CHF is no longer as high in the rankings when it comes to investors choice of safe havens. I have also heard that the Swiss are now preparing exchange controls as they feel the Euro may collapse.
This could involve a number of options including the following:
- Banning the use of foreign
currency within the country - Banning locals from possessing
foreign currency - Restricting currency exchange
to government-approved exchangers - Fixed exchange rates
- Restrictions on the amount of
currency that may be imported or exported
Personally I feel we could see the Government raise the bar on the 1.20 artificial pegging against the Euro at the moment however this has already proved very difficult and quite costly for them to maintain. Either way, my personal opinion is to expect the Swiss Franc to weaken further in the near term, potentially being nearer to 1.60 by the end of June.
If you are currently working in Switzerland and being paid in CHF it may be worth considering the options available to you inclusive of a stop loss, limit order or forward contract to protect you from adverse market movements.
If you do have a requirement such as this then feel free to contact me directly djw@currencies.co.uk and I shall be more than happy to assist you.
Are the Swiss National Bank Coming Close To Making the Swiss Franc (CHF) Weaker again?
Good afternoon all, there are once again growing rumours that the SNB may be close to devaluing the CHF once again as it has been extremely close to their 1.20 benchmark against the Euro of late.
Last time the SNB did theis the Swiss Franc lost around 10 cents against Sterling in about an hour and has not recovered back since, so those of you earning your wages in CHF may wish to consider various options inclusive of a forward contract to lock in your rate of exchange for the coming year just in case this does happen.
To give you a quick background, we are currency brokers and have been in the industry for years, this site was set up set up two years ago to give clients simple but informative information and now have 20,000 people a month stop by for information.
Last year we had thousands of people get in touch with us through the site, of which hundreds have already used us and we have
saved them money over their high street bank or current broker, you can get in touch with us by clicking here and setting
up a free, no obligation trading facility to get a quote within minutes…. There is no harm in comparing rates even if you have used someone else for years – Just like buying car insurance you need to always shop around. You can
also email me directly djw@currencies.co.uk with any questions you may have.
I look forward to speaking with you.
Pound Forecast – The week ahead against Euro, Dollar, Australian Dollar Swiss Franc and many more
Good day to you on what is statistically meant to be the most miserable and depressing day of the year, I hope you are all holding up well!
The week ahead looks to be a reasonably interesting one yet again, with a flurry of employment and inflation data and Mervyn King speaking too.
Those with an interest in the Australian Dollar may wish to keep a keen eye on the Chinese GDP data out overnight, should this be poor then we could see a small dent back in the AUD, better than expected and we could see new record lows.
Tomorrow Inflation data is out for the U.K followed by a speech from hea of the Bank of England Mervyn King, He is becoming ever nororious for knocking the Pound back when all looks to be heading the right way and a mention of Quantitative Easing plans may well do exactly that.
Wednesday is unemployment information, personally I would be surprised with the number of cuts we have seen and small businesses seemingly disappearing if this data is good, we may have a hairy few days lined up for Sterling if this is the case.
Australian Unemployment and U.S inflation data steps up on Thursday, hearing from contacts over in Australia I wouldn’t be surprised to see the Australian Dollar lose ground and some poor data to come out as apparently all isn’t as rosy as the currency strength suggest over in AUS.
Retail Sales for the U.K round of the week, probably will be reasonable as in the run up the Christmas stores were absolutely rammed and the boxing daty sales certainly didn’t show any sign of a recession from what I could see.
In short, I wouldn’t be surprised to see the Pound start off the week slowly and then climb back towards the end of the week, however there are plenty of surprises that ould pop up.
To give you a quick background, we are currency brokers and have been in
the industry for years, this site was set up set up two years ago to give
clients simple but informative information and now have 20,000 people a month
stop by for information.
Last year we had thousands of people get in touch with us through the
site, of which hundreds have already used us and we have saved them money over
their high street bank or current broker, you can get in touch with us by clicking
here and setting up a free, no obligation trading facility to get a quote
within minutes….
There is no harm in comparing rates even if you have used
someone else for years – Just like buying car insurance you need to always shop
around. You can also email me directly djw@currencies.co.uk
with any questions or queries.
I look forward to speaking with you
Currency news from over the weekend – Swiss Franc to be devalued again and Icap open their Drachma dealing desk again!!
Good morning to all regular readers and indeed if you are here for the first time!
Not a mad weekend for news as I feel much depends on the European meeting towards the end of this week, however there were a couple of points of note that you may wish to be aware of.
Swiss Franc followers – especially if selling Swiss Francs should be aware that I saw an article over the weekend saying that the SNB (Swiss National Bank) may look to devalue the CHF once again this week, last time we saw this happen the CHF lost around 10 cents against GBP in a matter of minutes, not good news at all if you are looking to bring money back for a property sale, wages or business transactions.
Along with this, Euro followers – Especially those involved with Greece may wish to know that Icap ( one of if not the largest Bank trading company) have made steps to reopen their Drachma desk…… Now there is no smoke without fire and this particular rumour seems to be smouldering consistantly, as mentioned in py previous post on selling euros I don’t think this presents a time for huge panic although you do certainly need to start putting some protection plans in place should things suddenly take a turn for the worst.
If you have Euros to sell yet have not yet completed on a currency transaction then do feel free to contact me regarding a range of different contracts we can offer to protect you from adverse market movements – email me directly djw@currencies.co.uk and I shall be happy to help.
What has happened to the Swiss Franc? What does this mean for the future? How does it work? Shall I pay off my Swiss Franc mortgage? Minimum level against the Euro – Australian GDP better than expected too…
Yesterday saw the largest movement for the Swiss Franc in its history as the Swiss National Bank decided to set a minimal level for the Franc against the Euro. Within ten minutes the CHF weakened by roughly 8% against everything as CHF was sold off rapidly by the SNB to get from 1.10 to 1.20 against the Euro, also against the Pound we saw similar movements as GBP-CHF went to 1.38 from 1.25!
Lets see what has actually happened here and what effect this may have gonig forward not just for EUR and CHF but for many other currencies too….
The Swiss are in effect saying they will buy unlimited quantities of of currency in order to keep the EUR-CHF rate at a minimum level of 1.20, personally if I had an investment in Swiss Francs and at some point I had to bring it back into Euros then why hold on now, I would sell it straight away as by all accounts the SNB say it will never get any better than this to sell…. This may lead to a large sell off of CHF in the coming weeks and months which may weaken the Swiss Franc and lead to investors looking for other places to store their funds.
On the other hand justhow much money have the SNB got to combat this??!! By decreasing the value in Swiss Francs it will increase demand, and many investors will no doubt see this as a buying opportunity which may mean that the SNB face an ongoing battle against investor appetite, the longer this goes on the more they have to draw on and do they really have a bottomless pit of money?? I don’t think so!
Yesterday saw the Pound lose ground against most majors following this, we slipped below the 1.60 mark against the Dollar as investors turned to gold (priced in Dollars) and also the Euro and antipdean currencies gained as it appears Sterling is still nowhere near the currency of choice.
Last night saw Australian GDP figures released and they came out 1% growth for their economy, much better than the 1% expected and leading to a good bit of AUD strength….. This goes to show Australiais still boxing on well in the global economic nightmare compared to the U.K showing a rather dismal 0.2%. Be aware this may lead to the AUD being fairly solid again in the near term so those of you with transactions to make may wish to think fast.
If you have a Swiss Franc mortgage, you are emigrating to Australia, you have business transactions to send overseas or any general need to transfer anything from £1000 to multi millions from one bank account to another involving a currency exchange then contact me directly djw@currencies.co.uk or by calling me during U.K office hours on +44 (0) 1494 787 462 and I will be happy to help you get the best rate along with a great level of customer service.
I look forward to hearing from you and heres to another busy day on the markets! 
Swiss National Bank sets minimum exchange rate limit at 1.20 against the Euro….. MAJOR STRENGTH AGAINST THE CHF 6 % in less than ten minutes…..
Those of you buying Swiss Francs might wish to get on the phone 01494 787 462 and take advantage of some amazing movements for the Swiss Franc:
The SNB have kind of pegged the Franc against the Euro leading to major CHF weakness, a great opportunity!
Swiss Franc exchange rate against Dollar, Pound, Euro and all majors as volatile as ever
With the mentione from the SNB (Swiss National Bank) that they will be stepping in to devalue the Franc in one of many ways over the course of this week we have seen huge movements for the Franc leading to great opportunities and some extremely volatile times.
I had an eye mainly on GBP – CHF yesterday and it moved over 6 cents throughout the day, if you were buying £200,000 of CHF then you are looking at over £10,000 move of CHF had you bought at the high as opposed to the low of the day.
If you have transfers pending, or you have been caught out with a Swiss Franc mortgage which is getting increasingly more expensive then you need to be in a position to act fast, you can also place different orders in the market that protect you against adverse market movements or assist you should you see a sudden spike in your favour, if you are earning Swiss Francs and want to lock into the current rate for anything up to two years in advance, you can for a small deposit with the use of a forward contract.
Feel free to get in touch with me djw@currencies.co.uk and I will be happy to help with any transactions you may have.
