Sterling has been struggling for direction over the past week, after a number of mixed signals have resulted in a directionless Pound.
It’s been trading within a pretty straightforward range against most major currency pairs recently, and after positive comments from the Bank of England regarding monetary policy last week.
Interest rate hikes from the Bank of England this year were looking a lot more likely after the governor of the BoE, Mark Carney last week stated that the BoE may need to begin raising rates much sooner than expected after an unexpected pick up in the global economy coupled with high inflation levels in the UK and increasing wage growth.
The following day much of the Pounds gains were wiped when the chief negotiator of the EU, Michel Barnier offered some stern words for the UK and the Brexit plans.
This shows the benefit of having someone like myself to assist by contacting clients when the rates jump in their favour. In the morning there will be Retail Sales data that could influence the Pound to CHF rate and give it some direction for next week. Do feel free to register your interest if you would like to be updated in the event of a spike for the GBP/CHF pair.
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.