GBP/CHF rates have fallen during Friday’s trading, ending Sterling’s positive run from earlier this week.
All eyes have been on the Davos economic summit in Switzerland, where global leaders have met for the annual review of the financial global markets.
Key figureheads including UK Prime Minster Theresa May, US President Donald Trump amongst other, have shared their views on the financial global climate.
Switzerland remains one of the key financial hubs and despite the CHF being overvalued against both the Pound and EUR, according to various financial reports this week, still remains one of the “safe haven” currencies of choice for investors.
Looking at the recent trend on GBP/CHF exchange rate and the Pound made gains earlier this week against the majority of major currencies, including the CHF.
There is no specific data releases that can be attributed to this upturn in fortunes, with UK Unemployment figures released as expected yesterday.
One of the catalysts could be comments made by German Chancellor Angela Merkel yesterday, where she commented on wanting to keep close ties with the UK following Brexit.
Personally, my opinion remains unchanged from recent months and that is we are working in a short-term market. Therefore, those clients holding the Pound should be keeping a close eye on the current developments and consider their positon accordingly.
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@example.com to find out all the options available to you ahead of your currency transfer.