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GBP CHF Pushes Towards 1.30

GBP CHF Pushes Towards 1.30
October 04
16:51 2017

The Swiss Franc remains in a strong position as global uncertainty both economically and politically continue to help support the currency. The threat of a nuclear conflict in North Korea after a recent escalation of tension between the US and North Korea has helped support the Swiss Franc as investment flows to the safety of the Swiss Franc. Meanwhile the global economic uncertainty despite a marked turnaround in the Eurozone is also helping the Franc.

Swiss Consumer Price Index inflation data released tomorrow is likely to create some volatility for the safe haven currency. Expectation is for a small pick up to 0.2% in September up from 0% the month prior. Any increase above this could lend some support for an already very strong Swiss Franc.

GBP CHF is pushing towards 1.30 again and any positive news from the UK economy could see a new level of support for this pair over 1.30. Bank of England Monetary Policy Committee member Any Haldane will be making a speech on Friday and any hawkish comments could help see the pound rally even further against the Swiss Franc.

Those clients looking to buy or sell Swiss Francs are likely to see considerable volatility in the coming weeks as developments unfold over Brexit. Theresa May was at the centre of attention at the Conservative Party conference where she was heckled by a prankster who handed her a P45 form. It is all relevant as her performance in getting the country through Brexit is key for sterling exchange rates.

If you would like further information on sterling or Swiss Franc exchange rates or any of the major currencies and to discuss how we can assist then please feel free to contact me on 0044 1494 787 478 and ask one of the team for James. Alternatively, I can be emailed directly on jll@currencies.co.uk

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James Lovick

James Lovick

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