GBP/CHF rates have dropped again during Thursday’s trading, with the recent negative trend for Sterling showing no signs of letting up. The Pound is coming under pressure across the board and with the media spotlight on the EU referendum and a possible “Brexit” at present, it is unlikely to breed market confidence in the Pound. Whilst this scenario is unlikely in my opinion, just the uncertainty it creates is enough to cause Sterling to weaken.
GBP/CHF rates have been on a steady slide but this was intensified earlier this week, following the latest UK trade balance figures. The UK economy is now feeling the effects of last year’s Sterling strength, with the knock on effect being a drop in UK exports. The Bank of England’s (BoE) stance has also changed and it seems as though they are now actively trying to devalue GBP to boost trade and whilst our central banks mind-set remains like this, it is highly unlikely we will see any major spikes for the Pound.
If you have a currency requirement over the coming weeks or months and would like to discuss the current market trends or forecasts, or simply wish to ensure you are getting the best rates of exchange available from your current provider, then please feel free to contact me on 01494 725 353 and ask the reception team for Matt. Alternatively, I can be emailed directly on [email protected]