Exchange Rate Forecast

Exchange rate forecasts and foreign currency news

Sterling claws back recent losses despite poor economic data

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Sterling gained over 2 cents against the Swiss Franc this week, hitting lows of 1.38 as seen in the earlier stages of the week. Despite poor manufacturing data releases and an EU referendum fast approaching, expectations point to anything but sterling strength.

I suspect that as we approach the EU referendum rates to drop dramatically, perhaps even to the low 1.30’s seen last January. I therefore recommend anyone looking to purchase Swiss franc with sterling does so sooner rather than later.

Key Swiss economic data due next week

Next week we look ahead to key economic data; on Tuesday we have Consumer price index releases for April which are forecasted for lower growth compared to March. Wednesday is the big event providing unemployment rates which can cause high volatility for the currency.

Despite these figures the Swiss Franc is considered a safe-haven currency and even during volatile events, currency movements are minimal and I therefore expect a cent or two weakness in the worst case scenario.

The upcoming EU referendum will be the main driving force behind the pairs’ rate change and those wishing to travel should make the most of 1.40 safety.

Swiss Franc benefits once again due to jittery markets

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This past week saw CHFEUR hit a 6 week high

This past week has seen the Swiss Franc once again solidify its position as a safe haven currency as we’ve seen its value boosted off the back of growth concerns for the global economy.

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Swiss Hublot Replica WatchesOn Wednesday we saw the Swiss Franc hit a 6 week high against the Euro as oil prices slid as Saudi Arabia implied that it won’t be cutting production in the short term future. Volatile commodity and equity markets coupled with uncertainty surrounding the future of Europe as Britain prepares for a potential EU exit has spooked investors, and for as long as uncertainty surrounds global economies I cannot see the CHF performing badly over the next 3-6 month period as long as risk adverse investors rush for safe havens at the same rate as they currently are.