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EU summit to dictate GBPCHF exchange rates

EU summit to dictate GBPCHF exchange rates
December 13
18:00 2017

Since the end of August the pound has been making inroads against the Swiss Franc and recovering from the dramatic drop in exchange rates since the Brexit vote over 18 months ago. GBPCHF has gained 8 cents in 4 months. To put this into monetary value, clients converting £200,000 into CHF now compared to 4 months ago will achieve an additional CHF16,000.

This week EU officials will meet in Brussels to discuss Brexit at the EU summit. In recent weeks the Brexit negotiations have been fairly successful as both parties have to an agreement in regards to the Irish border, EU citizens rights and the divorce settlement.

Personally I expect that EU officials will continue to paint a positive picture for the time being which will cause the pound to continue to rally against the Swiss Franc. For the time being I expect GBPCHF to remain above 1.30.

In other news the Bank of England will meet tomorrow to give the latest interest rate decision. No change is expected however with inflation continuing to rise, the minutes could give further indication to future monetary policy. I believe the reaction will be muted from the Bank of England however keep a close eye as this release has the potential to impact rates.

The currency company I work for enables me to buy and sell CHF at rates better than other brokerages and high street banks. If you are buying or selling euros this year feel free to send me the currency pair you are trading (CHFUSD, CHFGBP, CHFEUR) the reason for your trade (company invoice, buying a property) and I will email you with my forecast for the currency pair drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn

** If you are already using a brokerage and would like a comparison this will take you 2 minutes and could save you a considerable amount of money! **

 

 

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Dayle Littlejohn

Dayle Littlejohn

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