The Pound has started the week off on a very positive note vs the Swiss Franc breaking past 1.34 which is close to the highest rate to buy Swiss Francs since the EU referendum vote back in June 2016.
The Swiss Franc is often used as a safe haven currency but with the US having raised interest rates last week it appears as though global investors are moving away from the Swiss Franc and into alternative currencies.
The Pound has also had a very good run in part triggered by the good news surrounding the transitional deal which the UK managed to secure during last week.
The UK’s Brexit Secretary David Davis has said that a deal with the EU is ‘incredibly probable’ and this has also helped to strengthen the value of the Pound.
There is still an issue surrounding what is happening with the Irish border but Davis has gone on record to say that a solution would be ‘much, much easier’ in order to agree a free trade and customs agreement.
Although not technically in the Eurozone whatever happens in the continent will often affect the value of the Swiss Franc so it will be interesting to see what happens with the Industrial and Consumer Confidence data due out tomorrow morning.
The Eurozone has been performing relatively well recently so another positive release could see GBPCHF exchange rates fall during tomorrow’s trading session.
If you would like further information about what is likely to affect the value of the Pound against the Swiss Franc and would also like a free quote then please email me directly and I look forward to hearing from you. Having worked in the industry since 2003 I am confident of being able to offer you bank beating exchange rates.
Tom Holian email@example.com