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GBP/CHF Forecast – Will the Pound Recover? (Matthew Vassallo)

GBP/CHF Forecast – Will the Pound Recover? (Matthew Vassallo)
August 22
08:24 2017

The Pound has found a foothold against the CHF over the past week, with the pair settling around 1.24.

This followed some heavy losses earlier this month, after Sterling hit a high of 1.2831.

The UK economy remains under pressure, with the markets becoming increasingly sceptical regarding the on-going Brexit negotiations.

With reports of a disjointed government and various opinions on how the UK should proceed, it is unlikely in my opinion, that the Pound will make any sustainable inroads against the major currencies over the coming weeks.

Whilst market conditions can change quickly, I don’t foresee a major upturn in the short-term, with investor confidence in the UK likely to remain minimal. As such, it may be worth protecting the Pound’s current value rather than risk another downward spike towards 1.20.

Those clients holding GBP will look towards the Swiss National Bank (SNB) to help support their currency positions. The SNB have stated on more than one occasion that they feel the CHF is over-valued, which could help curb any major advances form the current levels.

However, with so much uncertainty and trepidation currently clouding the UK economy and with Brexit negotiations likely to sap market confidence over the coming month, I would be wary about assuming that there will any major increase in Sterling’s value.

If you have an upcoming GBP or CHF currency transfer to make you can contact me directly on 01494 787 478. We can help guide you through this turbulent market and as a company we have over eighteen years’ experience, in helping our clients achieve the very best exchange rates on any given market.

Our award inning rates can be accessed very easily over the phone and I can keep you posted with key market developments ahead of any prospective exchange you need to make.

Feel free to email me directly on mtv@currencies.co.uk to find out all the options available to you ahead of your currency transfer.

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Matt Vassallo

Matt Vassallo

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