GBP/CHF are trading around 1.25 on the exchange, with the Pound finding some support during yesterday’s.
Sterling received a received a boost, following a report that Switzerland’s economy grew at its slowest annual rate in nearly eight years.
A slowdown in public spending and an increase in their trade deficit, put pressure on their export reliant economy and caused investor confidence in the CHF to wane.
This in turn inadvertently boosted Sterling’s value, despite some poor data for the UK in form of the latest Services PMI figures.
These came in at the lowest level in 11 years and would usually have added further pressure to the pound, which is already swimming against a tide of negativity surrounding Brexit negotiations. With so much uncertainty around the UK economy, primarily due to the on-going concerns regarding Brexit negotiations, is this the window of anyone looking to sell Sterling has been waiting for?
The Pound’s current standing remains fragile and as such, I would be looking to take advantage of the current upturn, if I had a short-term GBP/CHF transfer to make.
Any sustained rise in the Pound’s value, would most likely need to be facilitated by a complete shift in market sentiment and investor confidence. With media reports continuing to highlight a dis-jointed approach to Brexit negotiations and in-fighting amongst the government over how best to facilitate our Brexit, grave concerns remain.
Personally, I believe any spikes in the Sterling’s value should be considered as an opportunity. It is unlikely that a major increase will occur until we have some solid information, regarding which direction the UK economy is likely to take over the coming months.
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.
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