The Pound has showed signs of improvement recently against the Swiss Franc after the tone surrounding Brexit appears to be softening. The discussions yesterday at Chequers appear to have gone well and this has given the Pound a boost against all major currencies including vs the Swiss Franc.
Indeed, there are a number of reasons why the Pound has made gains since the start of the year.
Firstly, with inflation continuing to be on the increase and constantly remaining above the government’s target the Bank of England appear to be backed into a corner which is why we saw a rate hike towards the end of last year. At the moment it appears as though the central bank are looking to raise interest rates again in May with chances as high as 75%.
This has led to an increase in confidence in the Pound and this has kept GBPCHF exchange rates above 1.30 recently.
Global investors appear to be moving money towards both the UK and the US owing to the likelihood of interest rate going up so investors are seeking a higher yield and moving away from the Swiss Franc which is why we have seen the CHF weaken.
As we go into next month the market will be eagerly anticipating what will happen with phase 2 of the Brexit negotiations so if you’re considering moving Swiss Francs then make sure you keep a close eye out on the political updates.
If you would like to free quote when buying or selling Swiss Francs and would like to save money on exchange rates compared to using your own bank then contact me directly. Having worked in the foreign exchange industry for one of the UK’s leading currency brokers since 2003 I am confident of being able to save you money and help you with the timing of your transfer.
Feel free to email me directly with a brief description of your requirement and I look forward to hearing from you.
Tom Holian firstname.lastname@example.org