The Pound is likely to remain under pressure against the CHF this week, despite a small upturn over recent days.
GBP/CHF hit a high of 1.2850 last month but following reports of another breakdown in Brexit talks and shrinking growth forecasts, investor confidence remains minimal.
The recent losses were curbed following some strong UK Manufacturing & Production figures last week, which came in above market expectation.
However, based on the overall negative market perception surrounding the UK economy at present, I do not anticipate this trend to continue over the coming days.
In my opinion those clients holding Sterling should be viewing this as window of opportunity, many analysts would not have predicted.
Whilst the current market remains extremely difficult to dissect, it essentially comes down to client’s risk adversity.
Those clients looking to sell Pounds need to ask themselves are they prepared to bet against the current market trend and a safe currency like the CHF?
Whilst the Swiss National Bank (SNB) continue their stance of trying to control the CHF’s value, it is unlikely to cause a devaluation against GBP for the time being.
If you have an upcoming GBP or CHF currency transfer to make you can contact me directly on 01494 787 478. We can help guide you through this turbulent market and as a company we have over eighteen years’ experience, in helping our clients achieve the very best exchange rates on any given market.
Our award inning rates can be accessed very easily over the phone and I can keep you posted with key market developments ahead of any prospective exchange you need to make.
Feel free to email me directly on [email protected] to find out all the options available to you ahead of your currency transfer.