With the continued back and forth between Greece and its creditors the underlying uncertainty has helped intensify demand for the Swiss franc. However, the continued appreciation of the franc has not been welcome news to the SNB. They have continued to fight the appreciation since deciding to remove the peg against the euro and have … Read more Swiss franc slides against majors
SNB hold rates amid Greek uncertainty The Swiss National Bank maintained their policy of negative interest rates at Thursday’s rate setting session. A major concern for the SNB has been the continued uncertainty surrounding the Greek debt situation. As tensions heighten and deadline days approach the demand for franc denominated assets have increased, strengthening … Read more SNB hold rates amid Greek uncertainty
Pound rallies against the franc and counterparts Fresh data out of the UK has set the pound on a rally against a number of its counterparts including the Swiss franc this week. Kicking the week off CPI figures from the UK turned negative for the first time since March 1960. A shock too many but … Read more Pound rallies against the franc and counterparts
UK goes to the polls and Swiss franc trumps counterparts Here in the UK polls opened at 7 o clock this morning for the 2015 UK General Election, in which reporters are calling the closest election for over a century. Various polling agencies have pointed to a hung parliament after stations close tonight. Therefore, following … Read more UK goes to the polls and Swiss franc trumps counterparts
It has been a good week for the Swiss Franc against the Euro. Yesterday we saw EUR/CHF rates reach a fresh three month low, dropping below 1.0250 before the Euro found some respite. It seems that all that is going on over in Greece is having an effect not only on the Euro side of the cross … Read more EUR/CHF falls to 3 month low
GBP/CHF SNB maintain ‘overvalued’ stance The pound has been subjected to a volatile week whilst the franc and SNB continue to maintain their stance that their currency is overvalued. Over the course of the last two weeks the pound has gone from a high of 1.4206 against the euro and 1.5138 against the franc respectively … Read more GBP/CHF SNB maintain ‘overvalued’ stance
GBP/CHF Swiss national bank maintains current low interest rate Yesterday saw the release of the latest ZEW business confidence index which improved on the previous reading to -37.9, signalling a sense of optimism surrounding the Swiss economy after their huge decision in January to remove the peg. However, there has still been pressure on the … Read more GBP/CHF Swiss national bank maintains current low interest rate
GBP/CHF Swiss finance minister calls for new peg It was reported this week that Swiss Finance minister Eveline Widmer-Schlumpf commented that they should be considering a new minimum exchange rate. The report have done little to boost confidence with investors, since the SNB decision to remove the peg the consequences have plagued them since, with … Read more GBP/CHF Swiss finance minister calls for new peg
Central bank still views Swiss franc as overvalued Speaking in Brussels on Tuesday, Swiss National Bank chairman, Thomas Jordan, announced that the Swiss franc was still significantly overvalued and that the bank would continue to be active in the forex market. After the SNB’s shock decision to scrap the euro peg, the franc appreciated within … Read more Reports emerge SNB continue to be active in the forex market
Pound strengthens after BoE report It has been a fairly quiet week for the Swiss franc against most major currencies – that was until today, when the pound rose by over two cents. This rise came off the back of comments from Mark Carney, Governor of the Bank of England, stating that the UK will reach … Read more Sterling gains two cents against Swiss franc