The GBP/CHF currency pair settled below recent high of 1.0622, its strongest level since February 4th, as the Sterling drew support from market expectations that the Bank of England will likely deliver two interest rate hikes in 2026.
Those expectations are being shaped by persistent inflation concerns and the impact of rising energy prices.
At the same time, Bank of England Governor Andrew Bailey has recently warned that such expectations may be overstated, signaling a degree of caution around the current pricing of the policy path.
Meanwhile, in Switzerland, the latest inflation data showed consumer prices had risen 0.3% year-on-year in March, picking up from 0.1% in February.
The reading fell short of the 0.5% consensus estimate, but still marked the highest inflation in a year.
Despite the uptick, inflation has remained close to the lower end of the Swiss National Bank’s 0%-2% target range, which eased immediate pressure on the SNB to alter its current policy stance.
The minor Forex pair lost 0.50% for the week.
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