Swiss franc slides against majors

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

UK election strengthens pound

UK election strengthens pound As all signs pointed towards a hung parliament leading up to last week’s general election, the public and media were shocked when exit polls pointed to an overall Conservative majority. The markets reacted accordingly with the pound strengthening against a number of its counterparts, and rose to a three week high … Read more UK election strengthens pound

Sterling gains two cents against Swiss franc

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

Swiss Franc hits two week low amid rumours of central bank intervention

Is SNB deliberately weakening currency? The Swiss franc fell to a two week low today, amid rumours of central bank intervention by the Swiss National Bank (SNB) in an effort to stem its current rally. After the critical move from the SNB in January to remove the minimum peg against the euro, we saw the franc … Read more Swiss Franc hits two week low amid rumours of central bank intervention

Will a Greece default see them leave the euro?

Are Greece likely to default on their debt? Over the past few weeks we have seen global exchange rates move dramatically. With huge falls in oil prices, the Swiss franc being unpegged from the euro and new stimulus packages in Europe, it has been almost impossible to predict the direction of the exchange rates. The … Read more Will a Greece default see them leave the euro?

Swiss franc rates: Franc losing ground

Franc drama over, but now rates fall It seems the storm has passed on the Swiss franc markets, with CHF crosses calming down from the drama a couple of weeks ago. Sterling/Swiss franc rates have been gradually pushing back up over the past few days, today sitting above the 1.37fr mark. It would seem that this … Read more Swiss franc rates: Franc losing ground

GBP/AUD falls after SNB announcement

GBP/AUD falls into $1.84s The Australian dollar has been trading firmer after a turbulent end to last week. The Swiss National Bank (SNB) announced on Thursday that they were removing the EUR/CHF cap, previously set at 1.20 francs. As a result the Swiss currency strengthened massively, moving 20 cents against sterling in a matter of … Read more GBP/AUD falls after SNB announcement

UK mortgage approvals hit 17 month low

UK mortgage approvals hit 17 month low Happy New Year from everyone here at the Foremost Currency Group. As the New Year begins, volatility is still ever-present – here in the UK, the Bank of England released data which highlighted that mortgage approvals have hit a 17 month low. Combined with a low-than-expected 0.2% gain in … Read more UK mortgage approvals hit 17 month low

Switzerland’s central bank cuts interest rates

Switzerland’s central bank cuts interest rates For the first time since 1970, Switzerland’s central bank has introduced negative deposits of minus 0.25%. With the global economic outlook seeming bleak, the Russian financial crisis worsening and the Eurozone on the brink of introducing a full scale quantitative easing programme, investors have been turning to the franc … Read more Switzerland’s central bank cuts interest rates