After Thursday’s solitary British economic data publication produced a disappointing result, the Pound Sterling to Swiss Franc exchange rate dived by around -0.34%. Conversely, Swiss data has printed positively on Thursday, allowing the Franc to advance against many of its most traded currency rivals.
The Pound Sterling to Swiss Franc exchange rate is currently trending in the region of 1.5196.
British Data Disappoints, Pound (GBP) Slumps
With only a singular domestic data publication on Thursday to drive movement, the Pound has slumped against many of its major peers after the data threw up a disappointing result. The Royal Institution of Chartered Surveyors House Price Balance declined beyond the median market forecast of a drop from 30% to 25%, with the actual result falling to 20%.
‘Lenders have been approving fewer mortgages since regulators required them in late April to make closer enquiries into borrowers’ personal finances, and RICS said buyers had also been put off by high prices and the risk of higher interest rates,’ stated David Milliken, writing for Reuters.
The Pound Sterling to Swiss Franc exchange rate has fallen to a low today of 1.5178.
Swiss Franc (CHF) Bolstered by Positive Data
Thursday’s Swiss data has printed positively, aiding the Franc’s appreciation against many of its most traded currency competitors. Yearly Producer and Import Prices data was forecast to increase from -1.4% to -1.3%, but the actual data showed a jump to -1.1%. On a monthly basis, Producer and Import Prices equalled the previous figure of -0.1% despite the median market prediction of a drop to -0.3%.
Pound Sterling to Swiss Franc (GBP/CHF) Exchange Rate Forecast to Trend in Narrow Range
With an absence of both British and Swiss economic data to drive movement, the GBP/CHF exchange rate is likely to hold steady in its current position.
The Pound Sterling to Swiss Franc exchange rate has reached a high today of 1.5254.
UPDATE
GBP/CHF Extends Losses on Lack of Data
The Pound Sterling to Swiss Franc exchange rate is currently trending in the region of 1.5162 having softened by -0.60%.
A complete absence of domestic data to reverse the downtrend has seen the GBP/CHF exchange rate extend losses on Thursday. An absence of Swiss data on Friday, however, should see the Pound shore up against the Franc if British data prints positively.
GBP/CHF Exchange Rate Edges Lower ahead of UK Data
The Pound Sterling to Swiss Franc exchange rate is currently trending in the region of 1.5114.
With Friday’s singular British economic data publication due later on in the morning, the Pound has generally softened against its major peers. UK Construction Output has been forecast to increase. Should the actual result meet with the median market forecast, the Pound is likely to recover from the losses racked up on Thursday.
An absence of Swiss economic data is likely to see the Swiss Franc movement dictated by foreign currency changes.
Swiss Franc (CHF) Exchange Rates
[table width=”100%” colwidth=”50|50|50|50|50″ colalign=”left|left|left|left|left”]
Currency, ,Currency,Rate ,
Pound Sterling,
, Swiss Franc,1.5179,
Euro,, Swiss Franc,1.2018,
US Dollar,, Swiss Franc, 0.9646,
Australian Dollar,, Swiss Franc, 0.8428,
New Zealand Dollar,, Swiss Franc,0.7617,
Canadian Dollar,, Swiss Franc,0.8520,
[/table]
