GBPCHF dips slightly

GBPCHF dips slightly

GBPCHF has remained fairly range bound this week with rates dropping to the bottom of the current trading range after worse than expected UK data stumbled the pounds run of good form. The SNB (Swiss National Bank) still has in place a ceiling to prevent the Swiss Franc strengthening uncontrollably with the bank threating to sell large reserves of Franc’s in order to weaken the currency should this occur.

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As the chart above shows, over the last month we have witnessed rates between 1.5200 and 1.5400 so CHF sellers should be looking to take advantage of this recent dip. It’s looking more unlikely that interest rates in the UK won’t be rising this year, so with this in mind it would be worth sellers of the CHF to consider locking in exchange rates at these areas because as soon as the UK interest rate speculation starts to gather pace, we are likely to witness GBP strengthen across the board against a host of major currenices including the CHF.

Foremost Currency Group is one of the most respected currency brokers in the UK, offering sharp currency rates and a bespoke service to each client. For more information on our service, for a rate comparison on any currency pair, call Sam Edmanson on 01442 892060 or email [email protected]  quoting The CHF blog.