We currently have the very best rates to buy Swiss Francs since the Referendum as confidence over the future outlook on Brexit continues to drive sterling. A weaker Franc is also part of the equation as we see risk appetite increasing in recent weeks, the overall driver on the market is now reduced fears over the Trade Wars and increased improvements in the global economic outlook.
If you have any currency transfers that you will need to make in the future getting the best news and information is vital to securing a favourable rate of exchange. Understanding what is driving your exchange rate is a vital component of understanding the market and future trends. Whilst GBPCHF has improved it may well improve further if we see further confidence over the outlook for both the pound and the global economy.
As a risk-sensitive currency, the Swiss Franc will appreciate in times of economic uncertainty and weaken in times of economic confidence. Whilst the outlook and a push higher towards the 1.40 level is now realistic, we must beware of global events which could destabilise the markets and create a stronger Franc.
The threat of rising tensions in Syria is a great example of the kind of threats the global economy now faces and the market may well see a much stronger Franc if these concerns escalate. It is always important to be very careful assuming exchange rates will just continue to improve, the overall market is now shifting so clients looking to buy or sell should be making careful plans around such volatility.
If you have a transfer to make in the future we would be most interested to hear from you and discuss the market and your options, please contact me Jonathan Watson to learn more. Please email me [email protected] to learn more!