Blog

Will GBPCHF rise above 1.25?

Will GBPCHF rise above 1.25?
July 26
16:56 2017

The pound to Swiss Franc exchange rate is currently back at 1.25 representing some of the very best times since May to buy Swiss Francs with pounds. If you have a transfer in the future buying Swissies with the pound then making some plans in advance is well worthwhile since the current market is not looking too favourable! GBPCHF has spent most of 2017 trading below the 1.30 highs reached back in May. Only a week ago we did hit 1.26 but it has generally been languishing in the 1.23-1.24 territory. If you have a transfer buying or selling the Franc with the pound we are here to help with the timing and planning of any exchanges.

Today;’s UK GDP (Gross Domestic Product) data did not offer the kind of improvements hopeful GBPCHF buyers were hoping for but overall the rates are much better. Looking ahead and analysing the kind of events that will influence the exchange rate this evening’s US Interest Rate decision will be vital to the more short term movements on the pairing. The Franc is seen as a safe haven currency and as such this means it will appreciate in times of uncertainty. This is a status also enjoyed by US dollar and the likelihood of any interest rate hikes will impact these sentiments and could trigger some volatility on the GBPCHF rate.

We are up at some of best levels to buy Francs in recent weeks which considering the dire performance of the pound is something to really celebrate. For some informed opinion on the currency markets and what lies ahead please feel free to contact me Jonathan Watson by emailing jmw@currencies.co.uk. The market is very turbulent and I can help guide you through the developments and help you track the market to trade at a better level.

About Author

Jonathan Watson

Jonathan Watson

Related Articles