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Another Victory For The Pound Against The Swiss Franc?

15 May 2009, 13:53

There is no doubt that the pound finally seems to be enjoying a better time of things on the currency markets of late.  There was an alarmingly long period of time where it just didn’t seem able to put up a fight of any kind against any currency at all – let alone one of the major ones.

But the latest news seems to indicate that the pound has plenty of fight left in it yet.  This currency alert – published on the RTT website – indicates that the pound certainly got the better of the Swiss franc over the last few days.  You can read it here.

But what is the bigger picture with the pound and the Swiss franc?  They are two currencies amid a sea of Euros, so it is always interesting to see how they fare against each other.

Back on the 12th April the pound was claiming 1.6873 Swiss francs.  Your currency converter will have registered rising and falling rates since then though, as you are about to see.  Three days after that the pound managed to push things as high as 1.7118, and it didn’t lose that headway for a while either.  It even managed to close out the week on 1.7238.

The week after was a very different story though, as the pound slipped back to 1.6668.  That equates to a loss of 0.057 in just seven days, so that wasn’t the best result.  It gave the pound something to try and gain back.

The following week was something of a see saw time, but it did make back some of that ground to finish on 1.6864.  As the next week started on the 4th May, the final exchange rate for the day was 1.6964.  Clearly there is something of a tussle going on between these two currencies.  Neither is prepared to give much ground in general.  And we can see now that the currency alert given above does relate to just a few days in time… which we are about to find out about.

The 5th May was another success for the British pound as it claimed 1.7059 Swiss francs.  That climbed up a bit further to 1.7142 on the 7th before dropping back to finish the week on 1.7000.  And on the last day we have data for at the time of writing – 12th May – the exchange rate had finished on 1.6888.

So while the pound is doing well against the Swiss franc, it doesn’t win every day.  It is more interesting to see these fluctuations for those who are heavily involved in the Forex markets of course.  In that arena the tiniest change can equate to a loss – or indeed a gain in your favour.  It all depends on which side you are betting on.

The Swiss franc is one of the most important and influential currencies in the world though – as is the pound.  This is why looking at how they perform together can be so interesting.  It may not encourage you to get started in Forex yourself, but it tells us a lot about how these two countries fare when they are surrounded by Euro using countries.

Keep an eye on them in future weeks – things could get even more interesting.

 

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