GBP CHF Rates Hold Steady Before UK GDP (James Lovick)

The pound has tailed off from its recent high against the Swiss Franc over the last couple of weeks with rates for GBP CHF sitting at 1.27 for this pair. The pound seems to have climbed as far as it can against most of the major currencies with the current economic and political factors at play. In my mind the next direction will come from the Supreme Court ruling which is expected to be made early in January 2017.

It has the potential to be a major market mover for the pound. Although the markets will be moving around during the festive break there will be continued volatility especially when trading volumes are thinner at this time of year. However, there is so much riding on the Supreme Court outcome that the markets are likely to be waiting for this announcement before any new found direction is found.

UK Public sector net borrowing is released tomorrow morning and could create some volatility for sterling exchange rates whilst Growth for Knowledge consumer confidence figures released on Thursday will also be interesting to see how the British consumer views the state of economic affairs just before Christmas.

It doesn’t end there though with Friday, the last working day before Christmas which sees the release of UK Gross Domestic Product figures for the third quarter. Expectation is for GDP to remain at 0.5% on the quarter and anything steady is likely to see the pound remain supported.

If you have an upcoming currency requirement either buying or selling Swiss Francs 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 James. Alternatively, I can be emailed directly on [email protected]