The Swiss Franc has seen continued strength residing in the 1.38’s against the Pound. Whilst the Euro and Sterling battle against external factors the Swiss Franc has been seen as a safe-haven to put money whilst the market is volatile.
If you are looking to sell Swiss Francs, there may be movements in your favour over the coming weeks. Furthermore in light of the horrendous terrorist attacks in Brussels the Swiss Franc may see further movement in its favour.
The Swiss National Bank kept interest rates at -0.75% and is looking to weaken the currency as the SNB believe it is currently overvalued. The decline in oil prices are seen as a short term reason as to why inflation is low in Switzerland, whilst the general low economic global outlook has dampened it increasingly. The SNB is anticipating GDP growth of between 1% – 1.5% for 2016 which has been revised down from previous estimates.
If you are looking to sell Swiss Francs the rates currently available may be one of the strongest points for the year as the Swiss National Bank attempt to decrease the currency. Please don’t hesitate to get in contact if you would like further information on the Swiss Franc Forecast, email me at [email protected]