Pound Sterling to Swiss Franc (GBP/CHF) Exchange Rate Forecast to Trend Higher on Swiss Retail Sales
The Pound Sterling to Swiss Franc (GBP/CHF) exchange rate appreciated by around 0.37% on Monday as a result of British data printing positively and Swiss data producing lower-than-anticipated results. Further gains can be attributed to the Bank of England (BoE) reporting that British households could withstand gradual rate increases.
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The Pound Sterling to Swiss Franc exchange rate is currently trending in the region of 1.5296.
British Consumer Survey sees Pound Sterling (GBP) Exchange Rate Strengthen
In the wake of a survey commissioned by the BoE, the Pound has strengthened against nearly all of its major peers. The survey suggested that British households were in a financial position to be able to withstand incremental rate revisions.
‘Overall, these results do not imply that increases in interest rates from the current historically low level would have unusually large effects on household spending,’ the BOE said.
In addition, the Pound’s gains were bolstered by a positive domestic data publication. Lloyds Employment Confidence advanced from 0 to 1.
The Pound Sterling to Swiss Franc exchange rate dropped to a low today of 1.5218.
Swiss Franc (CHF) Exchange Rate Declines on Retail Sales
After Swiss data printed negatively, the Franc softened against the majority of its most traded currency rivals. Perhaps most significantly, Retail Sales dropped from 0.5% to 0.3%. In addition, Consumer Price Index data showed inflation declined towards deflationary territory.
Pound Sterling to Swiss Franc (GBP/CHF) Exchange Rate: Volatility Forecast
Tuesday’s economic docket contains influential data publications pertaining to both Switzerland and the UK. Swiss Unemployment Rate is forecast to tick higher from 3.1% to 3.2%. On a seasonally adjusted basis, unemployment is expected to remain unchanged at 3.2%.
In terms of British data; Industrial Manufacturing, Manufacturing Production and the NIESR Gross Domestic Product Estimate will be of interest to those invested in the Pound.
The Pound Sterling to Swiss Franc exchange rate has reached a high today of 1.5326.