GBP/CHF rates have improved over the past week, with the pair trading close to 1.38.
The Pound has seen its value increase across the board, with its recent upturn linked to progress with Brexit talks and a strong run of economic data.
The fact that Brexit has not been front page news over the past week has also helped support Sterling’s rise, with no negative reports sapping investor confidence.
This lack of media coverage is unlikely to last in my opinion and a such those clients holding Sterling’s positions may wish to take advantage of the current upturn and remove the risk of a realignment by the CHF.
Looking at the Swiss economy and once of the reasons the CHF has come under pressure, is that the Swiss government have wanted that US protectionism could have a negative impact on the global markets. The fact they raised their own growth forecasts based on continued global growth, we may well see these forecasts reversed and this in itself is likely to cause investors to move funds away from the CHF weakening it as a result.
Any clients with a GBP/CHF currency requirement will be keeping a close eye on today’s UK Unemployment Rate and Average Earnings. Any improvement on last month’s figures will only reinforce the belief that the Bank OF England will potentially look to raise interest rates over the next couple of months, which again is likely to support Sterling’s recent rise.
If you have an upcoming CHF currency transfer to make, you can contact me directly on 01494 787 478. We can help guide you through this turbulent market and as a company we have over eighteen years’ experience, in helping our clients achieve the very best exchange rates on any given market.
Our award winning rates can be accessed very easily over the phone and I can keep you posted with key market developments ahead of any prospective exchange you need to make.
Feel free to email me directly on [email protected] to find out all the options available to you ahead of your currency transfer.