Pound to Swiss Franc Outlook: GBP/CHF Exchange Rate Steady After UBS Slide

December 31, 2014 - Written by David Woodsmith

STORY LINK Pound to Swiss Franc Outlook: GBP/CHF Exchange Rate Steady After UBS Slide

The Pound to Swiss Franc exchange rate was trading in the region of 1.5357 during the European session, little changed on the day’s opening levels.

With traders exerting caution ahead of the New Year break, market movement was muted. At the beginning of the week the Swiss UBS Consumption Indicator for November was published. The measure fell from a positively revised 1.32 to 1.29. The slide in the measure was largely due to reduced new car registrations, but the report also detailed a solid start to the Christmas period retail trade. UBS said of the figure; ‘retailers’ mood has improved again after the crash in recent months. The index for the assessment of business conditions rose from -8 points to 3 points in November. This means the optimists among retailers are again in the majority for the first time since July and are preventing a stronger decline in the consumption indicator.’

Swiss Franc Exchange Rates Today

The Pound to Swiss Franc exchange rate today is converting +0.33 per cent higher at 1.54398 GBP/CHF.
The Euro to Swiss Franc exchange rate is 1 EUR equals 1.20235 CHF.
The US Dollar to Swiss Franc exchange rate is +0.08 pct higher with a conversion rate of 1 USD equals 0.98950 CHF.
The Canadian Dollar to Swiss Franc exchange rate today is converting +0.34 per cent higher at 0.85484 CAD/CHF.
The Australian Dollar to Swiss Franc conversion rate is +0.29 pct higher at 0.81139 AUD/CHF.

While the Franc advanced modestly on the US Dollar and Euro prior to the report’s publication, the Swiss currency later dipped against almost all of its most traded currency counterparts. According to London South East; ‘The Franc declined to a 6-day low of 1.2034 against the Euro and a 1-week low of 1.5379 against the Pound, compared to Friday's closing values of 1.2026 and 1.5358, respectively. The Franc eased to 121.80 against the yen and 0.9880 against the Greenback, from early highs of 122.17 and 0.9857, respectively. The next possible support for the Franc is seen around 1.00 against the Greenback, 1.21 against the Euro, 1.55 against the Pound and 120.00 against the Yen.’

The Franc derived some support from a general risk-off environment on Tuesday as a number of factors (including sliding commodity prices, the threat of the upcoming Greek election and falling Asian stocks) pushed investors towards safe-haven assets like the Swiss Franc and Yen. Tuesday’s UK data, the Nationwide House Price report, had little impact on GBP/CHF trading as it was in line with economists’ expectations.


Data for Switzerland is in short supply for the rest of the week, but Franc volatility could be occasioned next week as the nation publishes the SVME Manufacturing PMI, unemployment rate figures and its inflation report. The measure of the manufacturing sector is expected to have risen from 52.1 to 52.7 in December while the jobless level is believed to have held at 3.2% and inflation is forecast to stagnate. Surprising results could inspire GBP/CHF volatility.

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