The Swiss Franc has gone from strength to strength against Sterling this year so far, and rates to sell Swiss Francs and buy Pounds are virtually at the best rates we have seen in the past 12 months.
This is brilliant news for those that work in Switzerland and send money back to the U.K but not such great news for those looking to purchase property over in Switzerland!
The reasons behind these movements are quite clear, Brexit talks are quite clearly dragging and not going as smoothly as the markets would like and the media have been very quick to pick up on this.
What this then brings is uncertainty to the market and leads to investors shying away from the Pound, this is quite understandable as with no clear plan in place for how the U.K is intending to operate as a business in the near future it makes a hard case for buying Sterling in the near term.
On the other hand, the Swiss Franc is well and truly in fashion and still being used as a safer haven for many investors, particularly those that are wary of the Dollar and the unknown that Donald Trump brings with that.
There is also a flow of money into safer havens from emerging market currencies such as the Turkish Lira and South African Rand, both economies are feeling the pinch at present and investors are losing confidence in holding emerging markets currencies at the moment.
Swiss inflation came in line with expectations recently and the Swiss economy is ticking along nicely, U.K economic data has actually been fairly good but Brexit no doubt is overshadowing most economic news.
If you need to carry out a Swiss Franc transfer and would like further insight into the above factors you are more than welcome to contact me directly. You can send me a message using the form below and I will be happy to speak with you personally.