Over the last 4 weeks GBPCHF exchange rates have been falling. Over the last 4 weeks GBPCHF has been as high as 1.3485, however at present GBPCHF sits at 1.2985. To put this into monetary value for clients purchasing 200,000 Swiss francs today compared to the highs experience last month they are now paying an additional £5,700.
The pound has lost value in recent weeks due to the change in sentiment surrounding Brexit. Head EU negotiator Michel Barnier announced that the transitional talks are not going to plan, and if this continues there wont be a transition and the UK will leave the EU with no deal in regards to trade. In regards to the value of the pound this is bad news, and if this commentary continues I expect the pound to lose further momentum against the Swiss Franc.
However, the art of negotiating is to aim high and not be afraid to ask what you want. At the moment it’s quite clear that both the UK and EU are doing this and both parties want something slightly different. For example, the EU wants the UK to adopt new laws that are set in the transition and the UK do not. Personally I expect there to be a deal in the final hour, which will give the pound a considerable boost against the Swiss Franc. However in the meantime the pound should remain under pressure for the time being.
There are no data releases to look out for this week for the Franc. All eyes turn to next weeks import / export data and industrial productions numbers Tuesday morning.
If you are looking to buy or sell CHF this year, the currency company I work for enables me to achieve clients better exchange rates than the high street banks and other brokerages. I specialise in property purchases and sales. Therefore if you are buying or selling a property this year and want to save money by achieving the best possible exchange rates but also want help in timing your transfer, get in touch by emailing me on firstname.lastname@example.org. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn
The more information you provide me, the more information I can provide you. Below is a list of what I require: your name, currency pair, brief description of requirement, amount, budget, timescales, telephone number and convenient time to call.