GBP/CHF has improved up closer to the 1.22 mark today following the news of strong employment figures for the UK market hitting the wire at 9:30 am this morning.
Employment figures showed that despite the first full quarter since the Brexit vote being fulfilled, the unemployment rate is still below 5%, which is considered ‘full employment’ in most modern Western economies.
Furthermore fewer people than expected have been claiming unemployment benefits, with the claimant count rising only by 700 persons across the entire country this month.
However, the gains are not very proportional to just how positive the news truly is. In this currently abnormal climate, positive news is not registering with the same fervor on Sterling’s value – not just against the Swiss Franc but across the board.
This is because after the flash crash near the beginning of the month there is an understandable anxiety pervasive in the marketplace that Sterling cannot hold its value for significant periods of time. Given this, there is a lot of speculation around the Pound with high street traders attempting to make a profit within a short-period of time, causing a large amount of movement on GBP/CHF but with very small net results as buyers are not holding onto their Sterling for very long at all.
As such ‘opportunities’ are rarely around for very long. In this current marketplace a premium is put on being able to move quickly should any tempting opportunities present themselves to avoid being ‘last to the party’.
I strongly recommend that anyone with a Swiss Franc buying requirement should contact me to discuss the options open to you the seize any more favourable levels which emerge immediately on [email protected].
I have never had an issue beating the rates of exchange on offer elsewhere, and these current buying levels can be fixed in place for anyone worried that further falls could occur in the run up the enactment of Article 50.