The rate for exchanging Pounds into Swiss Francs is now trading well into the 1.32’s, which are the highest levels seen since the Pound fell dramatically in the wake of the Brexit vote which shocked the global markets.
Now that global markets appear to be recovering which is underlined by rising interest rates in a number of developed nations, currencies such as the Swiss Franc and Japanese Yen which are considered safe haven currencies have begun to soften.
This is because investors no longer fear holding funds outside of safe haven currencies and products, and as a result we’re seeing the Swiss Franc lose value so this explains why the GBP/CHF rate is improving.
Sterling on the other hand has been buoyed recently due to improved sentiment surrounding the UK economy moving forward, as hopes of a Brexit Bill being agreed are high with many expecting them to have been finalised earlier this week.
If you would like to be updated in the wake of a short term price change between the pair, do feel free to register your interest with me and I’ll be happy to get in touch should there be a major spike.
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.