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GBPCHF exchange rates fall below 1.30 but for how long? (Tom Holian)

GBPCHF exchange rates fall below 1.30 but for how long? (Tom Holian)
February 12
16:56 2018

The Pound has remained in a fairly tight range against the Swiss Franc as we begin the week with little economic data due out today.

Tomorrow morning brings with it the latest UK inflation data for both month on month and year on year.

Inflation has been a hot topic for the UK and as inflation has been much higher than the government’s target for a long time then the Bank of England had no choice but to increase interest rates towards the end of last year to bring interest rates back up to where they were pre-Brexit.

With inflation continuing to remain high I think the Bank of England will ultimately be backed in to a corner and will have to raise them this year and expectations are that we will see a hike in rates by May at 75%.

In the short term the Pound has been struggling with the lack of certainty surrounding the Brexit topic with EU Chief Negotiator Michel Barnier suggesting that the transitional period (which will be between March 2019 and December 2020) is far from being sorted.

This has caused the Pound to fall below 1.30 against the Swiss Franc in the last week but if inflation comes out positively tomorrow then this could see GBPCHF exchange rates start to once again move in an upwards direction.

If you have a need to make a currency transfer involving Swiss Francs in the near future then feel free 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 compared to your bank or another currency broker.

Even a small improvement in the exchange rates can make a big difference so feel free to to email me and you may find you could save yourself hundreds if not thousands of Pounds.

Having worked for one of the UK’s leading currency brokers since 2003 you can email me (Tom Holian) on teh@currencies.co.uk and I will respond to you as soon as I can.

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Tom Holian

Tom Holian

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