The Pound has continued to climb throughout the week, after it was announced earlier this week by the Supreme Court that the UK government will require parliamentary approval before invoking Article 50.
It appears that now that there is certainty regarding the UK government stance moving, investors are warming to the Pound and it’s gained value versus all most major currency pairs throughout the week.
After losing so much value against the Swiss Franc in recent times I believe that the Pounds recovery against CHF in particular could be aggressive. The current GBP/CHF rate is around it’s lowest level over the past decade but the recovery does appear to be in full swing. If investors around the world develop an increased appetite to risk the Swiss Franc could suffer, as one of the main reasons the currency has been so strong is investors have been keen to hold funds within low yielding yet safe haven currencies due to such a busy year politically.
This morning will see the release of UK GDP figures and the expectation is for a reading of 0.5% throughout the 4th quarter of last year. If the figure sways from this expectation it’s likely that we will see the volatility between GBP exchange rates. Feel free to get in touch if you wish to be kept up to date regarding news releases such as this one in future.
If you are planning to make a currency exchange involving the Pound and the Swiss Franc, it’s worth your time getting in contact with me on [email protected] in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.