GBP/CHF – Live and Historical Rates
The GBP/CHF pair is one in which both currencies are majors. The pair itself is not a major though and it quite obviously is not a commodity pair either. The chart above depicts the amount of Swiss Francs one will need to purchase a British Pound.
The world’s oldest currency still in circulation today, the GBP is much more for the UK than simple legal tender. It is a sort of symbol of sovereignty, and the British people have indeed stuck to it through the years of their country’s EU membership. Now, with Brexit looming on the horizon, the GBP looks like it’s here to stay, despite the hit it took in the wake of the referendum. The authority in control of the GBP is the Bank of England, located in London, the financial capital of the world. London is also a major forex trading hub.
Despite its forex popularity, the Swiss Franc is only the 7th most popular reserve currency in the world. Given the size of the country whose currency it is, that is however quite an impressive accomplishment. Switzerland’s economy is one of the strongest in the world. Powered by massive financial- and services sectors and backed by huge gold-reserves, the CHF’s status as a major currency is indeed fully justified. While the EU is indeed by far the biggest trading partner of the country, Switzerland has never even considered joining the EU or the Eurozone and that stance is not likely to change in the future.
Trading opportunity-wise, the GBP/CHF pair is indeed a very interesting one. Both countries have refused the EUR, yet both are major trading partners of the EU. The two economies are rather similarly built as well. The stability of the CHF and the volatility of the GBP create decent carry trading opportunities.
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