With just a few days to go before Article 50 is triggered the currency markets are waiting with baited breath for what may happen to the value of the Pound against all major currencies including against the Swiss Franc.
Yesterday we saw a brief respite for the Pound vs the Swiss Franc with the release of much better than expected Retail Sales.
The figures for month on month showed a difference from 0.4% to 1.4% and this saw an impressive rise in Sterling.
However, already this morning the gains seen yesterday have already disappeared as the focus will return to the political landscape in the UK.
With Article 50 set to take place on Wednesday the time of the announcement has not yet been confirmed but you can be assured that the markets will react very quickly once Prime Minister Theresa May confirms that the UK will be formally leaving the European Union.
With the ongoing uncertainty as to what may happen when the French elections take place on 23rd April as the Swiss Franc is considered a safe haven currency this is one of the key factors in the recent strength of the Swiss Franc vs the Pound.
If you need to make a currency transfer in the next few weeks and are concerned as to what may happen to GBPCHF exchange rates during this time period it may be worth looking at buying a forward contract which allows you to fix an exchange rate for a future date for a small deposit.
Having worked in the foreign exchange industry for almost 15 years for one of the UK’s leading currency brokers I am confident that not only am I able to offer you bank beating exchange rates but also help you with the timing of your transfer of currency.
If you would like a free quote when either buying or selling Swiss Francs then contact me directly and I look forward to hearing from you.
Tom Holian firstname.lastname@example.org