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GBP/CHF has a busy day as 1.30 fails to act as a resistance, will GBP/CHF continue to climb? (Joseph Wright)

GBP/CHF has a busy day as 1.30 fails to act as a resistance, will GBP/CHF continue to climb? (Joseph Wright)
March 05
17:59 2018

Sterling has performed well today against all major currency pairs, with its performance against the Swiss Franc being one of the stand out performers.

In this morning’s trading session the Pound received a boost after it emerged that the UK’s services sector is in good health after the PMI figures hit 54.5 in February which is a lot better than the 53.3 expectations.

On Friday the UK’s Prime Minister, Theresa May gave a Brexit related speech which has failed to stimulate the markets as the pound remained relatively unchanged. I think that those of our readers monitoring rates should be aware that Brexit related news and updates are likely to be the biggest movers of GBP exchange rates.

Later in the week there will be the chance for GBP exchange rates to move once again as there is a raft of data due out at 9.30am. There will be Consumer Inflation Expectations, Manufacturing Production, Industrial Production and Trade Balance figures.

On Friday afternoon at 1.00pm there will be GDP estimates from a leading think-tank in the UK (NIESR). Expectations are for growth of 0.3% in February so expect a figure apart from this one to hold the potential to move markets.

If you would like to be kept updated in the event of a major move for the Pound to Swiss Franc rate, do feel free to register your interest with me as working on a dealing floor allows to react quickly to the event of a major move.

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 jxw@currencies.co.uk and I will endeavour to get back to you as soon as I can.

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Joseph Wright

Joseph Wright

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