Exchange Rate Outlook for British Pound GBP versus Swiss Franc (CHF) and Greenback (USD) Today

July 8, 2015 - Written by John Cameron

STORY LINK Exchange Rate Outlook for British Pound GBP versus Swiss Franc (CHF) and Greenback (USD) Today

Swiss Housing Data, UK Trade Balance Numbers to Impact GBP to CHF Exchange Rate Movement

Before the weekend the Pound Sterling to Swiss Franc (GBP/CHF) exchange rate could fluctuate in response to the Swiss Real Estate Index for Family Homes for the second quarter and the UK's trade data. The situation in Greece will also continue affecting demand for the safe-haven Franc.

Forex Forecast: AUD, NZD, USD, CHF Exchange Rates Experience Extensive Volatility

Global data releases have taken a back seat during recent sessions in the global currency markets, with investors focussing instead on the dramatic events in Brussels which have affected almost all of the most actively traded global currencies. Levels on the euro were certainly effected, but the Australian Dollar (currency:AUD) , New Zealand Dollar (currency:NZD) and US Dollar (currency:USD), as well as the Swiss Franc (currency:CHF) were also subject to considerable price action.

Pound Sterling (GBP) Exchange Rate Holding Steady on the Day - GBP/EUR, GBP/USD Fall

The POUND STERLING (currency:GBP) held steady on the day yesterday, following the publication of a mixed bag of local data. May’s UK Industrial Production numbers bettered expectations but the latest domestic Industrial Production numbers failed to hit their expected mark. A slight uptick in the rolling quarterly NIESR Gross Domestic Product estimate helped the Pound steady towards the end of the day. The Pound Sterling is now forecast to trade on a NEUTRAL TO POSITIVE footing moving forward.

Swiss Franc (CHF) Exchange Rate Gain on Jobs Data, CHF/USD, CHF/GBP Trend Higher

The SWISS FRANC (currency:CHF) had a solid day following the release of a characteristically strong set of unemployment figures. The numbers revealed that the overall level of joblessness in the Alpine nation dropped to a lowly 3.1%, as per expectations, providing investors with further reason to seek out Franc-denominated assets. However, the main driver of price action for the Franc moving forward is likely to be the ongoing newsflow from Brussels. Greece’s negotiators appear minded to dig in their heels and the upshot is forecast to see the safe-haven Franc trade on a NEUTRAL TO POSITIVE footing. The Pound Sterling Franc exchange rate currently stands at 1.4640.

Risk Aversion Keeps the US Dollar Currency at Best Conversion Rate against AUD, NZD Today

The US DOLLAR (currency:USD) continued to hoover up safe haven support yesterday afternoon as the euroland’s policymakers adopted a more abrasive tone towards Athens. Support for the Buck was further fuelled by a go-ahead set of US Trade Balance data. Tonight’s Federal Reserve minutes of its most recent policy meeting could provide the Greenback with further impetus as investors are expecting a US interest rate hike this side of Christmas. The forecast for the Dollar is NEUTRAL TO POSITIVE and the GBP USD exchange rate sits at 1.5430.

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TAGS: Currency Predictions Daily Currency Updates Poun Forecasts