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Pound falls vs Swiss Franc following UK Construction Data (Tom Holian)

Pound falls vs Swiss Franc following UK Construction Data (Tom Holian)
February 02
12:25 2018

The Pound has slipped vs the Swiss Franc this morning following the release of British construction data published earlier on this morning. The data was lower than expected and came to its slowest growth since September as uncertainty surrounding future plans regarding what will happen with the Brexit talks.

The Pound has however seen some gains vs the CHF over the last few months as the tone of the Brexit appears to be softening at the moment.

There are also rumours that the Bank of England may be considering hiking interest rates later on this year with a 50% chance of this happening in May and an 80% chance in November. Personally I don’t think we’ll see change until later this year as the market is not yet ready for a rate hike.

However, if inflation continues to remain too high then the central bank may be left with no alternative but to hike rates sooner than the current market expectations and this would likely give the Pound a boost against all major currencies including vs the Swiss Franc.

Later this afternoon we see the latest set of US Non-Farm Payroll data which usually causes a lot of movement on rates so make sure you keep a close eye out for the release at 130pm today.

If you have a need to make a currency transfer involving Swiss Francs in the near future then feel free to contact 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. 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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