A quick glance at a chart showing the Swiss Franc’s performance this year makes for simple reading, as the trend is generally downward against all major currency pairs.
There have even been reports of cross-border shopping trips from Switzerland to the surrounding countries declining, as the spending power of the Swiss Franc has diminished quite considerably in the last few months.
At the time of writing the CHF/USD pair are sitting almost exactly on 1.00 which is the lowest level since May of last year. This support level was hit in October of last year and if the CHF/USD pair fall below the 1.00 mark we could see a sell-off once the support level is breached.
The Swiss Franc’s status as a safe haven currency doesn’t appear to be benefiting it in the current climate, and as a number of central banks tighten monetary policy as the global economy recovers, the Swiss Franc appears to be one of the biggest losers. The Swiss Franc’s fall against the Pound appears to be one of the stand-out pairs after losing almost 5% in just the past 3 months.
Those of our readers following this pair, or another currency pair involving the Swiss Franc can feel free to get in touch for updates and predictions on the pair.
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 [email protected] and I will endeavour to get back to you as soon as I can.