GBPCHF – Sterling strength drives markets up (Steve Eakins)

GBPCHF rates have been climbing this week in early trading. A majority of this has come from the certainty out of China whom has had a better start than most days of last week. Plus personally I put this does to ‘profit taking’ of the market as traders that have rode the market down last week sell off positions and take their profits from the trade. this influx of money onto the system pushes up demand and therefore value.

Moving forward I don’t expect this to continue and think we will see rates drop further through this week. We have US and European data which I think will result in a ‘run to safety’.

This will come on Wednesday and Thursday – as a result if you have CHF to buy I would be moving sooner rather than later this week.

For more information please feel free to contact myself STEVE EAKINS via [email protected]