After falling from it’s 2017 highs of around 1.34, the GBP/CHF pair has since dipped and begun to climb back towards that mark again.
At the time of writing, the pair are trading just below 1.33 which is around a cent from the Year-To-Date high. The Pound has been boosted today due to a data release earlier where it emerged that Retail Sales surged in November.
The actual figure far exceeded the expectation as markets were expecting to see a figure of 0.4% which would have been up from the October figure of 0.3%, but Retail Sales figures rose by 1.1% during November.
Although the cost of living in the UK is increasing as Inflation levels rise whilst wage growths stagnates, I still think we could see the Pound rise over the next quarter to new highs. Those watching the GBP/CHF pair and waiting for the right time to make their transfer, it’s worth noting that the pound is up against CHF by over 8% in the past 6 months so the trend does appear to be positive for Sterling sellers.
Aside from today’s data release the Brexit is the main driver of GBP exchange rate movement at the moment and it’s been this way for around 18-months now. If you wish to be updated in the wake of a short-term price change, do feel free to get in touch to register your interest.
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.
