UBS: Government Can Keep UK Fiscal Concerns in Check, Buy GBP/CHF Near 1.08

  • The Pound to Swiss franc (GBP/CHF) exchange rate dipped to 10-week lows below 1.08 last week and after a tentative recovery, is again trading near 1.08. UBS notes on-going UK fiscal vulnerability, but expects solid Pound buying on dips and has a year-end target of 1.13.