Will The Pound Continue to Lose Ground against the Swiss Franc? (Daniel Johnson)

Sterling has lost considerable ground against the Swiss Franc of late. This is predominantly due to the political uncertainty created by the EU Referendum. I think it will be extremely difficult for Sterling to significantly rally against the Swiss Franc until after the referendum is conclude on 23rd June. If the UK were to leave the EU however it would catastrophic for the Pound, I would expect Sterling to fall up to 20 cents against CHF.

There is some hope on the horizon, there is the outside chance that the Swiss National Bank (SNB) could change monetary policy on Thursday this week. At 08.30 am we will see the SNB interest rate decision, although I do not expect any change in the base rate some measures may be taken in order weaken the the Franc to make exports more appealing. This may be the opportunity CHF buyers have been waiting for.

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