Rate to buy Swiss Francs with Sterling waiting for Brexit White Paper (Tom Holian)

Sterling vs the Swiss Franc exchange rate remains tentative this morning with the release of the Brexit strategy due to come out later today.

A white paper is going to be published later with MPs backing the European Bill by 498 vote against 114 last night.

The bill will be debated further in parliament next week although hundreds of amendments have already been suggested. Theresa May will still need the agreement  of parliament to trigger Article 50 and the content of the white paper is very similar to that given by May’s speech recently.

Later today the Bank of England meet to discuss their latest interest rate decision.

Clearly there is no chance that the central bank will change interest rates or introduce further Quantitative Easing but when Carney speaks if he is positive about the rise in inflation recently then any hints that an interest rate rise could happen later in the year could see the Pound make some small gains against the Swiss Franc.

However, what is clear is that we’re not likely to see any huge movements caused by economic data as the issue of Brexit is the real driver of exchange rates and as and when or if Article 50 is triggered then this is likely to be the driving force of Sterling vs Swiss Franc exchange rates.

With GBPCHF exchange rates still historically low then it may be worth considering taking advantage of these rates to sell Swiss Francs into Sterling and if you don’t have the full amount of funds available just yet then it may be worth looking at buying a forward contract which allows you to fix an exchange rate for a future date.

Having worked in the foreign exchange industry since 2003 I am confident that not only can I offer you better exchange rates than by using your own bank but with my experience also help you with the timing of your currency transfer when buying or selling Swiss Francs.

If you would like further information or for a free quote then contact me directly and I look forward to hearing from you. Tom Holian teh@currencies.co.uk