GBP/CHF rates have spiked up during Thursday’s trading, with the pair hitting 1.4310 at today’s high. With the Pound gaining almost 2 cents, the key question now is whether this trend will continue. Sterling seems to have found some support across the board and with little economic data of note for the UK today, the focus is on UK Prime Minister David Cameron and his talks in Brussels. It may be that we are starting to see the markets factor in a positive outcome to his talks, or just a realignment following yesterday’s heavy losses.
Either way it does seem as though the Pound is starting to find some support around the current levels and therefore it may be prudent to lock in any short-term positions and not gamble on what is become an increasingly volatile market. The general trend has been Sterling negative since the turn of the year and with the Bank of England (BoE) now actively talking the Pound down, I do not anticipate a major spike for GBP under the current market conditions.
If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me on 01494 787 478 and ask one of the reception team for Matthew. Alternatively, I can be emailed directly on email@example.com