Pound Swiss Franc Exchange Rate (GBP/CHF) Spikes; Pound to Dollar Holds Above 1.6600 GBP/USD

Modified: Thursday, 27 February 2014 17:18 BST - Written by David Woodsmith

STORY LINK Pound Swiss Franc Exchange Rate (GBP/CHF) Spikes; Pound to Dollar Holds Above 1.6600 GBP/USD

The Pound Sterling to Swiss Franc exchange rate (GBP/CHF) edged higher during early trading today thanks to a disappointing set of Q4 Swiss Gross Domestic Product data. The numbers showed a quarter-on-quarter increase in Swiss economic activity of only 0.2% versus the consensus expectation amongst economists of a 0.4% print. The figure was particularly disappointing given that the counterpart Q3 number printed at 0.5%. The development saw the Pound Swiss Franc exchange rate spike to as high as 1.4850 earlier GBP/CHF.

Elsewhere, some slightly better than anticipated German labour market data, released earlier today, was not enough to stop the Pound euro exchange rate heading upwards GBP/EUR. The latest jobs figures from the giant Teutonic economy showed a monthly reduction in the total number of unemployed of 14,000, while the overall level of joblessness remained at a manageable 6.8%. However, German figures released later in the day showed that the rate of price rises in the eurozone’s premier economy had pulled back to 1.2% - this was lower than analysts’ expectations of a 1.3% showing, causing investors to price-in a higher percentage chance that the European Central Bank will further loosen its already ultra-loose monetary policy in the near-term. This factor is likely to key the euro under pressure moving forward.

Meanwhile, a less-bad-than-expected showing from this afternoon’s US Durable Goods data has, up to this point, failed to have any marked effect on the relative value of the Greenback. The gauge of the number of orders for goods expected to last at least three years from US economic participants is considered to be a strong indication of confidence levels in the American economy. January’s print of -1.0% was not going to set the world alight, but it was considerably better than the -1.7% which analysts were anticipating. The net effect has seen the Pound US Dollar exchange rate GBP/USD settle in the mid-1.6600s.

Important Pound Sterling, US Dollar & Swiss Franc Exchange Rates (As of: 17:00 GMT 27/02/2014)

The Pound Sterling to Swiss Franc exchange rate is trading down -0.24% at 1.48100 GBP/CHF.
The Pound Sterling to US Dollar exchange rate is trading up +0.1% at 1.66831 GBP/USD.
The US Dollar to Swiss Franc exchange rate is trading down -0.34% at 0.88773 USD/CHF.
The US Dollar to Pound Sterling exchange rate is trading down -0.1% at 0.59941 USD/GBP.
The Swiss Franc to Pound Sterling exchange rate is trading up +0.24% at 0.67522 CHF/GBP.
The Swiss Franc to US Dollar exchange rate is trading up +0.34% at 1.12647 CHF/USD.

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