February 26, 2021 - Written by Tim Boyer
The Pound’s strong streak may have come to an end for now as investors took profit from the British currency’s bullish February, and the British Pound to Swiss Franc (GBP/CHF) exchange rate has been tumbling from its best levels on new demand for the Swiss Franc as well. The Swiss Franc is a safe haven currency which is often appealing in times of global market uncertainty, so it is benefitting from this week’s bonds rout.
After opening this week at the level of 1.2561, GBP/CHF spent most of the week trending with an upside bias. In the middle of the week, GBP/CHF was surging and touched on a high of 1.2877 - the best level for the pair in over a year.
January 15, 2021 - Written by Tim Boyer
While Britain’s outlook has improved over the past week, the British Pound to Japanese Yen (GBP/JPY) exchange rate is sliding today. Investors are hesitant to keep buying the Pound as focus on the possibility of Britain seeing a ‘double-dip recession’ rises. Meanwhile, the Japanese Yen is gaining a little on market risk-aversion, but Japan’s coronavirus and economic outlooks continue to keep pressure on the Yen overall.
Since opening this week at the level of 141.03, GBP/JPY has been trending higher as the Pound benefitted from Bank of England (BoE) speculation.
In the middle of the week, GBP/JPY touched on a high of 142.18. This was the best level for the pair since March 2020, over 10 months ago.