Posted November 05, 2010
The Swiss franc and the British pound both have one thing in common at the very least. Neither of them are willing to sink themselves into the Euro and disappear as a result.
But which one of them would be the strongest for the month of September this year? Would the pound prove to hold strong and win the best position for the month, or would it be the Swiss franc that would reign over it? We shall see as we explore what happened during September.
Our starting rate, looking at the Swiss franc versus the British pound, was 0.6376. We had just a few days before the first weekend of the month was upon us, and as it turned out there would be very little difference by this point as we looked on the currency converter. Even though the Swiss franc had started well, it was back to 0.6388 by the time Friday night came around.
So what would happen next? Would the franc have the strength to fight back or did the pound have other ideas?
The franc had the first success on Monday as it finished on 0.6413, but even though it stayed in the 0.64 region for most of the rest of the week, it couldn’t stay there indefinitely. On Friday night it slipped down to 0.6324.
The pound was clearly not going to let the franc get too far ahead, and even though first blood once again went to the franc the following week, it wasn’t by much. Monday evening ended on 0.6398 and Tuesday only saw another slight increase to 0.6461. This was a bigger jump though so did it foretell another improvement later on?
As it turned out the pound was about to knock the Swiss franc back down to size once again. Friday night ended just as the previous one had, with the franc dropping back to a lower rate of 0.6326.
So could this be the pattern we would see for the rest of the month? Would the franc never get too far ahead and claim too high a rate against the pound? Was there more in store we hadn’t seen coming as yet?
Monday the 20th saw a small improvement to 0.6370 for the franc, and it got better still the following day too. By Tuesday night it was up to 0.6426 and it went even higher to 0.6471 on Wednesday. But if we wanted a predictable end to the week we didn’t get it – this time it went up again to 0.6483.
There were just a few days left of the month now, and there would be very little movement between the two from now until the last trading day of September. The final exchange rate was marked down as 0.6472 between the Swiss franc and the British pound, and this meant the Swiss franc was slightly up on its starting position back on the 1st.
Would it stay that way long into October though?