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Euro gains on Swiss Franc as Swiss National Bank have a decision to make on rate cuts (Daniel Wright)

Euro gains on Swiss Franc as Swiss National Bank have a decision to make on rate cuts (Daniel Wright)
April 25
08:27 2017

We have seen small gains made by the Euro against the Swiss Franc since the result of the first round of the Presidential elections in France, and indeed the Swiss Franc has generally weakened against most major currencies over the course of this week.

The SNB (Swiss National Bank) have recently commented that they do have room to cut interest rates should they decide that they need to, which are currently sat at -0.75%. A lot now really depends on the next round of the French elections and should Marine Le Pen start to perform well and the Swiss Franc start to make gains once again then a move would not be out of the question.

Although we do not have another interest rate decision due from the  SNB for another 51 days (the next one is due on Thursday 15th June) I would not rule out the possibility of an earlier movement as the SNB have done this before and would not be afraid to do it once again.

Those who have been following the Swiss Franc for a number of years will remember when the SNB removed the peg for CHF/EUR leading to movements of over 25% in a day for Swiss Franc exchange rates, certainly one of the strangest days I have had on this trading floor in the ten years I have been here.

If you live in Switzerland and send money to the U.K or Europe, or should you be looking to buy a property in Switzerland and you have Swiss Francs to buy with either Euros or Pounds then I can help you with this.

Please feel free to get in contact with me (Daniel Wright) on djw@currencies.co.uk with a brief description of what you are looking to do and I will get in contact personally to put together a plan of action and to secure you a market leading exchange rate when you do come to book out your exchange.

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Daniel Wright

Daniel Wright

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