Swiss Franc Vs EUR, GBP & USD Exchange Rate Predictions - Swiss Growth Forecast Lowered

Published: 20 Oct 2017 21:23 Forex

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The Swiss Franc weekly forex forecasts and roundup vs Pound Sterling (GBP), US Dollar (USD) and the Euro (EUR), along with the CHF to GBP, EUR and USD conversions today.

As extreme volatility hits the foreign exchange rate markets, we take a look at how the Swiss Franc fares today.

What are the current CHF conversions?

  • The Pound to Swiss Franc conversion rate is +0.73 pct higher at 1.51657 GBP/CHF.
  • The Euro to Swiss Franc rate today is converting at 1.20733 EUR/CHF.
  • The US Dollar to Swiss Franc exchange rate today is converting +0.16 per cent higher at 0.94318 USD/CHF.
  • The Canadian Dollar to Swiss Franc conversion rate is +0.3 pct higher at 0.83833 CAD/CHF.
  • The Aus Dollar to Swiss Franc exchange rate today is converting -0.19 per cent lower at 0.82636 AUD/CHF.
  • The NZ Dollar to Swiss Franc rate today is -0.13 pct lower with a conversion rate of 1 NZD equals 0.74908 CHF.

Please Note: these are inter-bank forex rates to which margins are applied when performing a money transfer to Switzerland from the UK - speak to a recommended FX provider to fix the best exchange rates.

The Pound to Swiss Franc Rate Today: GBP/CHF

The Pound to Swiss Franc exchange rate strengthened on Thursday, hitting a high of 1.5174 in response to developments in both Switzerland and the UK.

While the Pound strengthened across the board in response to some hawkish comments from Bank of England policymaker Martin Weale, the Franc was pressured lower by the Swiss SECO Economic Forecast for October.

The report was slightly pessimistic in tone, indicating that growth in Switzerland will be slower than originally anticipated, and led to Franc losses.

The data outlined both domestic and global headwinds; ‘The weak economic indicators over the last few months, particularly in the Euro region (zero growth in the second quarter, falling sentiment indicators, amongst others), suggest that the pace of the economic recovery is still slower than had previously been assumed. The geopolitical tensions (Russia/Ukraine and the Middle East) are apparently also contributing to the uncertainty amongst companies. Even the robust German economy has recently been showing increased signs of weakness, primarily attributable to subdued exports.’

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The GBP/CHF consolidated earlier gains after the Economic Forecast was published.

The Euro to Swiss Franc Rate Forecast: EUR/CHF

Although the Franc declined against several of its currency counterparts as Switzerland’s growth prospects were negatively revised in the SECO Economic Forecast, the EUR/CHF weakened on Thursday.

The Euro (EUR) was trending in a weaker position against most of its peers as a result of less-than-impressive inflation data for the Eurozone and the belief that Germany could be on the verge of recession.

In recent weeks a run of German reports have fallen short of forecasts, and with the global outlook clouding over the Eurozone’s largest economy could quite easily post two consecutive quarters of contraction.

In such an environment the Euro is feeling the pressure, and the currency is likely to continue trending lower until the European Central Bank decides its next course of action.

The US Dollar to Swiss Franc Exchange Rate Forecast

The US Dollar to Swiss Franc forex pairing (USD/CHF) recouped the previous day’s losses on Thursday as investors bet that the ‘Greenback’s declines had been excessive.

The US Dollar slid across the board after domestic retail sales data showed an unexpectedly steeper decline in sales growth that anticipated.

However, forecasts that today’s US initial jobless/continuing claims and industrial/manufacturing data will be positive have helped the US Dollar rebound.

The USD/CHF exchange rate rose to a high of 0.9490 on Thursday and could extend gains if the US stats impress.

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