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GBPCHF to fall throughout June

GBPCHF to fall throughout June
June 12
16:50 2018

Its a key month for Brexit negotiations as EU leaders are set to meet at the EU summit at the end of the month. At the time of writing this article MP’s within the House of Commons are voting on the amendments set out by the House of Lords and so far, MP’s are voting in favour of disregarding the lords amendments. So far the pound has strengthened since voting begun as it appears investors believe Theresa May negotiating power remains intact.

However, the EU summit I believe will cause major problems for sterling exchange rates. The Irish border and customs union problem is far from solved and already the ‘backstop’ proposal looks like the best opinion for the UK and EU at present. I expect EU leaders to release a harsh statement after the summit suggesting a no deal looks likely as the UK have not made sufficient progress so far. Therefore this is the reason I believe the pound will struggle against the Swiss franc.

In other news the key economic data releases to look for this week are Swiss Industrial production and Import prices Wednesday morning at 8.15am, inflation data for the UK at 9.30am Wednesday, the US interest rate decision Wednesday evening and finally the ECB interest and monetary policy statement Thursday afternoon at 12.45pm.

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

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Dayle Littlejohn

Dayle Littlejohn

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