A source from the EU

The reports about significant progress from the ongoing Brexit negotiations between the European Union and the United Kingdom have boosted the confidence for the pound sterling. The British pound to Swiss franc exchange rate is on track to gradually climb up to its resistance level this October as bullish investors hope for the best. A source from the EU commented that serious progress has been made between the two feuding sides on reciprocal social security rights for the two parties’ citizens. Another source said that this progress is one of the most positive outcomes form the two parties so far. Thanks to those pieces of news, the safe-haven appeal of the Swiss franc won’t obviously stand a chance and, of course, the Swiss National Bank will be okay with the exchange rate’s appreciation. See, a stronger franc will threaten the economic recovery of Switzerland’s economy and the SNB is avoiding it from appreciating against major currencies.