The Pound Sterling to Swiss Franc (GBP/CHF) exchange rate has been in the dumps today, along with most of the other Sterling (GBP) pairings.
GBP/CHF Exchange Rate News: Mounting Pressures see Sterling Take a Dive Today
Pound Sterling (GBP) has made far-reaching losses against its competitors today, primarily on account of factors combining to severely damage confidence in the strength of the UK economy.
One such occurrence has been the highlighting of the fact that North England’s rail and road links are stretched to the limit at present, severely limiting the development of the ‘Northern Powerhouse’ ideal. This was brought up as part of a campaign by Lord Adonis to ‘kick-start’ the HS3 rail link between Manchester and Leeds.
Another has been the estimate that there is a 23% chance of a Bank of England (BoE) interest rate cut this year.
Sterling has fallen by -0.9% against the Euro (GBP/EUR), the US Dollar (GBP/USD) and the Swiss Franc (GBP/CHF) today.
Swiss Franc (CHF) Mixed Today on Diving Gold Price
The Swiss Franc (CHF) has made uncertain movements so far today, with gains consisting of more than 0.8% against the Australian Dollar (CHF/AUD) and Pound Sterling (CHF/GBP) and less stellar movements being limited shifts against the Euro (EUR/USD) and US Dollar (CHF/USD).
The price of gold per 100 ounces has fallen from over $1270 to under $1230 today, so it is possible that the gains of the ‘Swissie’ are only due to the ‘Aussie’ (AUD) and the Pound falling in contrast to a static Franc.
GBP/CHF Exchange Rate Forecast: Budgets and Central Banks to Focus on in Near Future
The next movement for the GBP/CHF pairing is likely to occur as a result of British news, with the UK’s January and February earnings, claims and unemployment figures due out tomorrow morning. Following on from this in the early afternoon will be the 2016 Budget, set to be delivered by Chancellor George Osborne.
Thursday will be a day of central bank contributions, with the Swiss National Bank (SNB) and BoE interest rate decisions both scheduled. Current forecasts are for a pair of interest rate freezes.
Current GBP, INR Exchange Rates
The Pound Sterling to Swiss Franc (GBP/CHF) exchange rate was trending in the region of 1.3974 and the Swiss Franc to Pound Sterling (CHF/GBP) exchange rate was trending in the region of 0.7162 today.
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