Pound To Swiss Franc Conversion Rate Recoups Losses Today As Price Of Gold Rises

Published: 20 Oct 2017 21:24 Currency Markets Ecomomy News Forex

British pound to franc exchange rate forecast

With increased appetite for high-yielding assets following positive Chinese ecostats, the GBP to CHF exchange rate rallied as the week started.

Although the Bank of England (BoE) opted to leave interest rates unchanged this led to a strong Pound Sterling (GBP) rally, driven by relief that there had been no dissenting votes for a rate cut.

Consequently the Pound Sterling to Swiss Franc (GBP/CHF) exchange rate trended higher, in spite of continued strong demand for safe-haven assets.

The British pound fell against the Swiss Franc today, partly because of the latest movement in commodity prices.

The GBP/CHF exchange rate has let a lead slip through its grip today, on the price of gold per 100 ounces. While the cost remains generally unstable, gold has nonetheless risen in value today from around $1265 to over $1277.

There was little reason to buy into the British pound exchange rates (GBP) on Wednesday after the UK’s Industrial and Manufacturing Production reports proved decidedly disappointing.

Domestic manufacturing output declined by -1.9%, its largest drop since May 2013, to reignite worries over the future of the country’s manufacturing base.

Despite the fact that British ecostats produced mixed results erring towards negativity, the UK Pound advanced versus most of its major peers.

Pound Sterling exchange rate appreciation can be linked to easing ‘Brexit’ concerns as more global officials urge the UK to remain a member of the European Union.

Meanwhile, the combination of overvaluation concerns and damp market sentiment caused the Swiss Franc to decline versus many of its currency rivals.

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Other Pound Sterling / Currency Exchange News

Latest Pound/Euro Exchange Rates

On Friday the Pound to British Pound exchange rate (GBP/GBP) converts at 1

At time of writing the pound to pound exchange rate is quoted at 1.

The live inter-bank GBP-USD spot rate is quoted as 1.262 today.

The GBP to EUR exchange rate converts at 1.171 today.

The GBP to CAD exchange rate converts at 1.71 today.

NB: the forex rates mentioned above, revised as of 29th Mar 2024, are inter-bank prices that will require a margin from your bank. Foreign exchange brokers can save up to 5% on international payments in comparison to the banks.

Pound Sterling (GBP) Exchange Rate News and Outlook

As mentioned above the UK unit managed to tick higher versus most of its major peers today despite mixed results from trade data.

Whilst March’s monthly UK trade data showed the deficit narrowed beyond expectations, the quarterly reading was far less supportive; showing the deficit widened to the most in eight-years.

However, the Pound’s appreciation can be linked to easing ‘Brexit’ fears after former NATO and US Security Chiefs urged the UK to remain a member of the European Union, arguing that Britain will face increased security threats in the event of a ‘Brexit’.

franc to pound exchange rate chart

Swiss Franc (CHF) Exchange Rate News and Outlook

After inflation data out of China met with expectations and Foreign Direct Investment eclipsed expectations, market sentiment improved significantly.

With commodities stocks advancing and amid heightened demand for high-yielding assets, the safe-haven Swiss Franc cooled versus its peers.

Overvaluation is still a cause for concern, so the Swiss National Bank (SNB) will likely be pleased to see the Franc soften. If the European Central Bank (ECB) eases policy soon, the Euro devaluation and Franc overvaluation could pose a real problem for Swiss trade.

Swiss domestic data had minimal impact today with April’s Unemployment Rate meeting with expectations of a drop from 3.6% to 3.5%. On a seasonally-adjusted basis, Swiss Unemployment rose from 3.4% to 3.5%.

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