Since August begun the appetite for risk has lessened within global financial markets, and this has unsurprisingly resulted in CHF strength.
When compared with the Pound the Swiss Franc has actually gained 3 cents since the month started, with many traders wondering whether the rate can drop back down to it’s lowest levels so far this year in the early 1.20’s.
The Pound isn’t being helped by the fears surrounding the poor start to the Brexit negotiations which are likely to be an influencing factor for some time.
Now that hopes of an interest rate hike in the UK have dwindled many investors are hoping for some positive news for the Pound that could result in a boost to its value, but it difficult to tell where from as earlier this week it also emerged that the UK is now one of the worst performing economies from within the G10 set of countries.
There isn’t any economic data out of the UK specifically tomorrow, so I expect the GBP to CHF exchange rate to continue to be driven by sentiment.
If you wish to be kept updated regarding any short-term price movements between the Pound and the Swiss Franc, or any other currencies for that matter do feel free to register your interest with me.
If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on [email protected] and I will endeavour to get back to you as soon as I can.