The Pound to Swiss Franc rate has been boosted recently, mostly owing to CHF weakness but the positive sentiments surrounding the UK at the moment have also helped.
Over the past week GBPCHF is up by almost 1.5% and over the past month it’s up by almost 4%. Around the middle of last month Sterling was boosted across the board of major currencies after news broke that the Brexit transitional deal has been agreed between the UK and EU negotiators. Hopes of an interest rate hike next month are also increasing the Pounds value which is one of the reasons for the boost to GBP/CHF.
The Swiss Franc on the other hand has been coming under pressure as demand for the safe haven currency is on the wane. It is also known that the Swiss National Bank is struggling to balance out demand for the currency and stabalise its value. I also think the pick up in global economies coupled with the increasing interest rates are limiting demand for the Swiss Franc, so moving forward I wouldn’t be surprised to see the Pound to Swiss Franc rate continue to climb.
There is little economic data out for the rest of the week so I expect to see the pair continue to be driven by sentiment, and if you would like to be notified in the event of a major market movement, do feel free to register your interest with me.
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 firstname.lastname@example.org and I will endeavour to get back to you as soon as I can.