The Pound to Swiss Franc exchange rate has opened up flat this morning, trading at around the 1.2385 mark at the mid-market level.
With the triggering of Article 50 yesterday many were under the impression that the Pound would fall further, but it appears that the Brexit and the fears/uncertainty surrounding it appear to have been priced into the Pounds current value.
Since the unexpected Brexit vote the Pound has lost 15% against the Swiss Franc with its lowest level being hit in October last year. During this time the Pound fell below 1.20 as fears emerged that the UK would be going through a messy divorce with the EU although those fears now appear to have faded.
Moving forward I’m expecting to see the Pound continue its recovery against CHF, although I wouldn’t expect to see the Pound hit its pre-Brexit levels anytime soon. I think that how the Brexit negotiations unfold could have a major influence on Sterling’s value as this is likely to be the key topic for GBP exchange rates moving forward.
There is also a high likelihood of an interest rate hike from the Bank of England in order to counter rising inflation levels in the UK, and this would likely give Sterling a boost helping the pair climb above 1.25.
If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well 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.