Brexit dictates current GBP/CHF Levels
I have a very strong view that Sterling is currently undervalued against the Swiss Franc. The pound is only at current buoyancy levels due to the uncertainty surrounding Brexit. As some form of certainty is returned I believe the pound will begin a slow steady rally. Trade negotiations are crucial to GBP/CHF levels with normal data releases almost seemingly irrelevant.
Theresa May has been given the go ahead to trigger article 50 by the House of Commons and I expect little resistance from the House of Lords. Labour minister, Harriet Harman attempted to throw a spanner in the works by trying to pass an amendment which secures the rights of current EU citizens in the UK, but the amendment was blocked. There will shortly be a release of a white paper document from the government which will detail far more thorough plans for the exit process. I think the could cause a rally against the Swiss Franc.
If you are selling Swiss Francs, I would not procrastinate. I would get your trade done, you are in an exceptional position. There may well be small movements in your favour. But, as I mentioned earlier I feel Sterling is chronically undervalued and will strengthen in 2017.
If you have to buy Swiss Francs short to medium term you are in a very tricky situation. It is vital to be in touch with an experienced broker, we are headed for volatility. Timing your trade will be crucial as will be your choice of contract option. If you would like my assistance, I will provide the most competitive rates of exchange and a free trading strategy to suit your individual needs. Give me a brief outline of your currency requirement and I will endeavour to get in touch at my earliest opportunity. Thank you for reading my blog and I look forward to hearing from you.
Foreign Currency Direct