Swiss GDP Figures Better Than Expected (Matthew Vassallo)

The CHF received a boost during early mornings trading, following better than expected Gross Domestic Product (GDP) figures. The figure of 0.4% came out above the expected 0.2% and initially gave the CHF a boost against GBP, with the pair dropping to 1.3886 at today’s low. Despite the improved figure the CHF failed to hold it value, with GBP making a recovery back above 1.40 at the time of writing.

Sterling has found some support over the past 48 hours and it seems as though any further major losses have been curbed for the time being. The Pound is fighting against a wave of negativity surrounding the UK economy and with talk of a possible “Brexit” likely to dominate headlines in the run up to the referendum in June, I would be surprised to see any sustained support throughout this period.

Personally I would be looking to take advantage of any small recovery and if you have a short-term GBP/CHF position, I would be considering my position based on the current climate.

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 0044 1494 787 478 and ask one of the team for Matt. Alternatively, I can be emailed directly on [email protected]