Swiss Franc continues to make gains on the Pound

Swiss Franc continues to make gains on the Pound

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...
Sterling strengthens against CHF

Sterling strengthens against CHF

GBP/CHF - Sterling has been anchored of late due to the lack of clarity surrounding Brexit. Secretary of State for Trade, Liam Fox recently said that he believes there is a 60% chance of a "no deal" scenario. The Irish border has been a point of contention for some time along with customs union access. We have seen Sterling rally against the Swiss Franc yesterday following news that Brexit Chief negotiator Michel Barnier stated "We are prepared to offer Britain a partnership unlike with any other...
GBP/CHF - The Franc's Safe Haven Status is a Mixed Blessing for Swiss Economy

GBP/CHF – The Franc’s Safe Haven Status is a Mixed Blessing for Swiss Economy

The Pound’s value has tumbled against the CHF over the past month, losing almost 5 cents at its recent low. GBP/CHF have levelled out slightly over the past few days, with the pair currently trading just under 1.27. The Pound has been under pressure for some time with investors shying away from Sterling, as on-going concerns over Brexit continue to handicap any major advances. If recent media reports are to be believed, then there is seemingly an increasing chance of a no-deal scenario with the EU. If...
Sterling strengthens against CHF

Swiss Franc Strength as Safe Haven Status Returns

The Pound has fallen sharply against the Swiss Franc on the back of the Turkey crisis which is creating uncertainty throughout the financial markets globally. Rates for GBP CHF have now fallen below 1.27 as investors seek the safety of the Swiss Franc to avoid the global risks elsewhere. It has been a long time since this type of currency behaviour has been seen for the Swiss Franc and there may be more to come. The Pound is also trading at lower levels against...
Sterling strengthens against CHF

GBPCHF – The Brexit barometer

GBPCHF hits 2018 low on no-deal Brexit fears The Swiss Franc has been in the ascendancy against Sterling as fears over a hard Brexit increase. The Pound has been taking a real battering this week as investors sell off the Pound to find more stable shores. GBPCHF is an excellent barometer of Brexit confidence and the fact it is at the lowest point of the year reflects the recent slump in confidence relating to the lack of coherent plans over the UK’s departure from the...
Sterling strengthens against CHF

Bank of England likely to increase interest rates but will this help the Pound...

The Bank of England are expected to raise interest rates later today from 0.5% to 0.75% and this will be only the second time in ten years. The last rate hike was back in November and will take rates to their highest level since 2009. When the previous meeting took place the Bank of England voted 6-3 in favour of keeping interest rates on hold and we will need to see a minimum of five members out of the nine voting for a rate hike for...
GBPCHF - The Brexit barometer

Pound finds support against the Swiss Franc but for how long?

The Pound has found a little bit of support against the Swiss Franc with GBPCHF exchange rates trading just above 1.30. The Pound has dipped below 1.30 on a number of occasions but it keeps bouncing back above suggesting that there is a lot of support at these levels. Sterling has really struggled to make gains vs the Swiss Franc in recent weeks and it is being held back by the uncertainty caused by what is happening with the ongoing Brexit talks. David Davis and Boris Johnson...
CHF finds support following fresh Brexit uncertainty

CHF finds support following fresh Brexit uncertainty

It’s been a busy day in the markets, following the resignation of UK Brexit negotiator David Davis late Sunday night. Davis confirmed he would be leaving his position, due to the Brexit strategy agreed following UK Prime Minster Theresa May’s Chequers cabinet meeting on Friday. Davis cited an unworkable Brexit plan, which he felt was one where the UK was “giving away too much and too easily”. This was seen as a major blow to the UK Government and Theresa May, however the Pound initially made gains...
BOE Interest Rate Decision

Carney’s comments help to lift the Pound vs the Swiss Franc

The Pound has made some small gains versus the Swiss Franc this morning after Bank of England Governor Mark Carney has said that he has more confidence in the British economy which has led some people to think that we could be seeing an interest rate hike coming in August in the UK. According to some predictions there is a 70% chance of a rate hike which I think may be too early to happen. Last month was the first time that we saw a 6-3...
GBPCHF - The Brexit barometer

Strong economic growth in Q1 strengthens CHF

Sterling has come under some pressure recently, falling by over two cents against the CHF since the middle of June. GBP/CHF rates are currently trading around 1.3065, having hit a high of 1.3271 earlier this month. The Franc has been supported by robust growth in the Swiss economy, which grew at a faster pace during the first quarter of this year than analysts expected. A weaker CHF and global sporting events helped to boost the Swiss based International Olympic Committee & football’s governing body FIFA. This in...