GBP/CHF: the macro gap
On the Macro Currency Strength Meter, the British Pound scores -7 and the Swiss Franc scores -43 — a gap of 35 points in favour of the British Pound. The widest divergence is in risk mood, which favours the British Pound. All else equal that gap is a fundamental tailwind for the British Pound against the Swiss Franc — though markets may already have priced much of it in.
Strength gap
+35.4
Stronger side
GBP
Edge is
Holding steady
Scores
-7 vs -43
Factor by factor
Positive is stronger relative to the other majors, not in absolute terms. The gap column is GBP minus CHF.
| Factor | GBP | CHF | Gap |
|---|---|---|---|
| Interest Rates | -35 | -45 | +10.4 |
| Positioning | +20 | -31 | +51.6 |
| Risk Mood | +11 | -53 | +63.5 |
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