Still Good Euro Swiss Franc Exchange Rate

CHF Still Outperforming Other Currencies

CHF opened the year with very good exchange rate and it continues to outperform other currencies. The start of another month was also impressing when it comes to CHF exchange rate versus GBP, EUR or USD. Swiss franc was the best performer among major currencies, while British pound underwhelmed and lost much of its gains from January. It was close to being the worst currency in G20 group in the first week o February. Thus GBP/CHF exchange rate falls significantly and experts at Goldman Sachs suggest exiting this pair of currencies, after it advocated for selling GBP/CHF back in December. British pound was in trouble due to Bank of England’s economic commentary and published interest rate guidance that made investors abandon GBP. Specialists at Goldman Sachs say pound is expected to trend even lower against Swiss franc in months to come, and that also other currencies will be more attractive to investors, for instance the Swedish krona. Even though many investors surely plan to buy Swiss francs, as it is considered safe-haven currency, other might be more appealing for those wishing to get some profit rather than store the value of money.

Euro Franc exchange rate is falling

In the last few days, the euro franc exchange rate has fallen, which is good news for the many cross-border commuters who change money on ExchangeMarket.ch. In the last few days the EUR CHF exchange rate fell from 1.004 at the end of last month to 0.988 on 7 February.

SNB’s Latest Comments

Influencing EUR/CHF exchange rate were some recent comments on behalf of the Swiss National Bank made by its president Thomas Jordan. Jordan said the currently Swiss inflation is above the level of price stability and it may continue to be so for the time being. He claims price stability does not happen automatically and now the SNB is rather focused on limit some second-round effects of inflation. In fight with inflation, the SNB might raise rates even further as the bank is also ready to remain active in foreign exchange rate market whenever it is necessary.