Tag Archive: GBP/CHF

FX Daily, January 25: Dollar is on the Defensive Despite Firmer Rates

The US dollar is softer against nearly all the major currencies. Participants appear to be growing increasingly frustrated with emerging priorities of the new US Administration. They want to hear more details and discussion of the tax reform, deregulation, and infrastructure plans.

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FX Daily, January 24: UK Supreme Court Requires May to Submit Bill on Brexit to Parliament

As widely expected, the UK Supreme Court ruled that Parliament approval is needed to trigger Article 50 start the divorce proceedings with the EU. The Court decided by an 8-3 majority that a bill needs to be submitted to both chambers, but that the approval of the regional assemblies (e.g. Scotland, Northern Ireland) is not necessary.

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FX Daily, January 20: Trump Day

The dollar peaked against the yuan two days after the Federal Reserve hiked interest rates in the middle of last month. We argue that that is when the market correction began, not at the turn of the calendar. Despite claims that China's currency is dropping like a rock, it has actually risen for the fifth consecutive week. That is the longest rising streak for the yuan since early 2016.

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FX Daily, January 19: Dollar Gives Back Most of Yellen-Inspired Gains

While the US 10-year yield is unchanged, the dollar is consolidating its gains against the yen in a relatively narrow range of about half a big figure below JPY115.00. It has seen its gains pared more against the euro and sterling, where most of Yellen-inspired gains have been unwound. Sterling found support near $1.2250 and was bid up to $1.2335 by early in the European sessions.

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FX Daily, January 18: Markets Stabilize, Awaiting Fresh Cues

The US dollar has stabilized after yesterday's bruising. From a fundamental perspective, little has changed. After hard exit signals from the UK government sent sterling down from $1.2430 on January 5 and 6, to below $1.20 at the start of the week, the pound rallied back to almost $1.2430 yesterday amid "sell the rumor buy the fact" activity.

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FX Daily, January 17: Trump’s Comments Send the Dollar Reeling

The Pound has been subjected to a heavy amount of pressure as we progress further into 2017, with GBP/CHF rates being one of the heaviest losers. The pairing is now trading at a similar level to GBP/USD levels below the 1.22 mark. Their is an enjoyable symmetry between the two from an analysts point of view. Both are well regarded as safe-haven currencies, and in this time of increased uncertainty, both have almost the exact same value in the...

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FX Daily, January 13: Corrective Forces Persist

The Supreme Court Judgement on whether parliament will have to O.K the triggering of article 50 is ongoing and when the ruling is announced expect big swings on GBP/CHF. I think the likely outcome will be that parliament will get the vote, most broad sheet papers have indicated the majority of the judges are in favour of the parliamentary vote.

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FX Daily, January 12: Dollar and Yields Ease Further, but Look for Recovery

After a choppy North American session yesterday, the dollar and US yields remain under pressure. The dollar is lower against all the major currencies and most emerging market currencies, including the recently shellacked Turkish lira and Mexican peso.

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FX Daily, January 11: Dollar Comes Back Bid

The pound has seen a sharp fall following the interview that Theresa May gave with Sky news on Sunday although there has been a small rebound this afternoon. GBP CHF exchange rates are hovering around 1.2350 for this pair.

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FX Daily, January 10: Positioning more than Fundamentals Give Traders Pause

After strong moves to start the year, the capital markets continue to consolidate. Many observers are suggesting a fundamental narrative behind the loss of momentum, but in discussions with clients and other market participants, it seems as if the main source of caution is coming from an understanding of market positioning rather than a reevaluation of the macro drivers.

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FX Daily, January 09: Sterling Pounded by May’s Hard Brexit

Sterling has stolen the US dollar's spotlight. The issue facing market participants was if the rise in hourly earnings reported as part of the pre-weekend release of US December jobs data was sufficient to end the dollar's downside correction. Instead, May's comments over the weekend indicating not just a desire but strategic thrust to abandon the single market in exchange for regaining control over immigration and not being subject to the...

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FX Daily, January 06: Dollar Consolidates Losses, Peso Firms while Yuan Reverses

I am reading a lot about the pound in 2017 which is likely to be as volatile as in 2016. But the Franc is a harder beast to predict. Loosely tracking the euro but subject to its own rules and trends GBPCHF could be an interesting pair to watch in 2017. There are numerous global events which can shape the direction on the Franc and clients looking to exchange pounds into Francs or move Francs back to the UK should be considering the path ahead.

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FX Daily, January 05: Dollar Slide but Resilience Demonstrated while Yuan Squeezed Higher

There are two main developments. First, the high degree of uncertainty expressed in the FOMC minutes and the repeated references to the strong dollar spurred a wave of dollar selling. The dollar retreated in Asia, but European participants saw the pullback as a new buying opportunity.

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FX Daily, January 04: Consolidation in Capital Markets

GBP/CHF rates have jumped during the first official day of trading in 2017, with the pair hitting 1.2657 at today’s high. The Pound gained support this morning following positive UK Manufacturing data, which came in well above market expectation. This increased market confidence in the UK economy and the Pound has ultimately benefited as a result, gaining a cent on the CHF.

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FX Daily, December 22: Mixed Dollar amid Light News as Investors Move to Sidelines

GBP/CHF rates have dipped over the past week, as the markets start to slowdown ahead of the Christmas period. Market trends become harder to predict at this time of year, due to the fact there is less capital injected by investors. Less liquidity ultimately equals less stability and the Pound may be suffering due to investors pulling their funds away from it and into safer haven currencies such as the CHF.

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FX Daily, December 21: Dollar Mixed in Thinning Activity, Dow 20,000 Watch Continues

The US dollar is narrowly mixed as the holiday markets make for light turnover. Global equity markets are not finding much encouragement from the new record highs by the Dow Jones Industrials. There have been a few developments to note.

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FX Daily, December 15: Greenback Extends Gains on Back of Fed

Sterling has made steady gains against the CHF over the past month and although the spike has levelled this week, the Pound has certainly gained a foothold. Yesterday’s decision by the US Federal Reserve to raise their base rate from 0.25% to 0.5% did little to shift the value of GBP/CHF but with investors still digesting the outcome, we may yet find it still has an effect.

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FX Daily, December 14: Markets Quietly Edge into FOMC Meeting

The Pound is entering mid-December in the same fashion it begun the month after having a very strong November as well. After being buoyed by Donald Trump’s victory and the High Courts ruling that parliamentary approval is needed before invoking Article 50, the Pound has been boosted further after economic data has also impressed, with yesterday being a good example of this.

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FX Daily, December 08: Dollar Heavy into ECB

The ECB prolonged its bond purchases, which came unexpected for markets. Consequently the EUR/CHF lost nearly half of its big gains that it registered in the beginning of the week. The ECB expects lower inflation for longer, which makes the life for the SNB harder for longer.

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FX Daily, December 07: Greenback is Broadly Steady While Sterling Slides

The US dollar is little changed against most of the major currencies. Sterling is the notable exception, losing about 0.75% to trade at three-day lows. It was on the defensive in early European turnover but got the run pulled from beneath by the unexpectedly poor data. UK industrial output fell by 1.3% in October. The median forecast was for a small increase.

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