The Swiss Franc is in low demand today after the financial markets breathed a sigh of relief.
Irrespective or our readers personal beliefs the markets were generally hoping for a more EU-friendly French Presidential candidate to come out on top of the first round of voting that took place this weekend. The far-right Eurosceptic candidate, Marine Le Pen will go through to the 2nd round but the likelihood of her winning now just sits at around 10%.
Its the high possibility of Macron now going on to win that has bolstered the Euros value, and this same outlook has also created a sense of risk appetite within markets which generally speaking, gives a boost to the riskier commodity based currencies such as the Aussie and Canadian Dollars. At the same time the safe haven currencies such as JPY as well as CHF have struggled as they are generally considered safer options with a lower rate of return.
The next round of voting within the French elections will take place on the 7th of May, but in my opinion the fears surrounding the Eurozone will now soften as many have now written off Le Pens hopes of a victory.
Economic data is quiet this week, but do feel free to get in touch if you wish to be kept updated regarding any short term price movements between the Pound and the Swiss Franc.
If you are planning to make a currency exchange involving the Pound and the Swiss Franc, 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.