Sterling tumbled against most major currency pairs today, and especially against safe haven currencies such as the Swiss Franc. The Pound dipped as soon as it was announced that interest rates will remain unchanged and the voting pattern has become less bullish in favour of a rate hike, as inflation levels have eased slightly in recent weeks. The Bank of England also adopted a cautious tone and cut its growth forecast for the UK economy in 2017 from 1.9% down to 1.7%. Mark Carney, a very important figure as he’s the governor of the Bank of England also warned of the risks of Brexit, and
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The Pound has gained roughly around 1% against the Swiss Franc this week, making the prospect of buying Swiss Francs with Pounds a more attractive prospect. The Pound to Swiss Franc rate has quite some distance to climb before reaching its May highs of 1.30+, but the currency was helped this week after the Bank of England surprised financial markets on Thursday during the Monetary Policy Committee’s interest rate decision. Almost half of the voting members of the BoE’s Monetary Policy Committee voted in favour of raising interest rates. This was the first time they’ve been this bullish since 2007, ten years ago. The most likely
The Pound is continuing its downward spiral against all major currency pairs, as today’s trading session has seen another sell-off in the Pound,s value. The uncertainty surrounding the UK’s situation moving forward is weighing on sentiment and the Pound’s value. and has fallen over 2% since the election result last week. The relationship between the Pound and the Swiss Franc is interesting as investors tend to magnate towards currencies like the Swiss Franc in times of uncertainty, as the currency is considered a safe haven currency. Therefore in times as political uncertainty within Europe such as now, we could see the Pound continue to weaken
Currency manipulation is becoming a hot topic now that Donald Trump has been inaugurated as the US President. Followers of his social media accounts will be aware of his criticism’s of a number of countries for artificially weakening their currency’s in order to remain competitive on a global scale, and recently his attention has been on the Eurozone and how Germany is benefiting from the weaker Euro. It likely that sooner or later CHF will hit the headlines the Swiss National Bank works particularly hard to ensure the Swiss Franc doesn’t become vastly overvalued. Due to the Swiss Franc’s status as a safe haven currency
Since the UK public decided to vote out of the European Union GBPCHF exchange rates have dropped 22 cents. To put this into monetary value a
The GBP/CHF currency pair is difficult to predict at the moment with a number of factors potentially affecting it. With the Swiss Franc being a safe
The big driver on the GBPCHF exchange rate at the moment is the uncertainty over just what will happen next with the EU Referendum, this is
Recent GBP weakness has presented the best time in 6 months to sell CHF for GBP. The expectation is that this will continue since sterling appears
There are several reasons for Sterling’s decline against the Swiss Franc. There has been a drop from 1.49 in mid December to the 1.43s which is
Sterling’s rally yesterday after a recent string of poor news has evaporated by morning. GBP/CHF rates are now back below 1.45 as Sterling moves back to
