GBP/CHF Gap +13.6 Updated 12 Oct, 17:24 UTC

GBP/CHF: the macro gap

On the Macro Currency Strength Meter, the British Pound scores -14 and the Swiss Franc scores -28 — a gap of 14 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.

GBP/CHF STRENGTH GAP1Y · BASE MINUS QUOTE0+14+49-6+14 AND FADING
GBP minus CHF, composite macro score over the past year. Above zero, the GBP side carries the edge; below, the CHF.
Strength gap
+13.6
Stronger side
GBP
Edge is
Holding steady
Scores
-14 vs -28

Factor by factor

Positive is stronger relative to the other majors, not in absolute terms. The gap column is GBP minus CHF.

FactorGBPCHFGap
Interest Rates -31 -46 +15.0
Positioning -6 +7 -13.2
Risk Mood +8 -39 +46.3
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