Convert GBP to CHF
Any developments surrounding Brexit have caused significant volatility in the GBP over the past few years. GBP/CHF especially sees a high amount of volatility as news on Brexit affects both the Pound Sterling and the safe haven Swiss Franc. Progress on Brexit drives strength in the GBP and weakens the safe haven appeal of the CHF, turning this pair extremely bullish, and vice versa.
Traders turn to the CHF as a safe haven currency in times of heightened uncertainty in markets as Switzerland is known as a neutral nation that does not participate in geopolitical conflicts, and hence maintains stability in its economy even in times of crisis.
The GBP/CHF currency pair is a cross currency pair with lower volatility as both currencies enjoy a close correlation with each other owing to their strong economic and geographical proximity. As a result, this currency pair is relatively safer and easier to trade even for inexperienced forex traders.