The Pound-to-Swiss Franc exchange rate rose handsomely on Wednesday and remained one of the better performing Sterling pairs of 2021 but that hasn't stopped Credit Suisse and Natwest Markets from selling the Franc afresh and reiterating earlier buy recommendations for GBP/CHF. 

The Japanese Yen remained the worst performing major currency of 2021 on Tuesday but could be set to narrow the gap between itself and comparable rivals over the coming weeks if BMO Capital Markets is right to be concerned about the prospect of a 'short squeeze' playing out this month.

The Euro-to-Dollar rate was consolidating a recovery of its 200-day average Tuesday having declined to back off from 1.19 amid increasing signs that it has bottomed out, some of which prompted Goldman Sachs to warn that risks to the bank's bullish forecasts are now shifting to the upside.

The Krone tumbled on Tuesday but remained a leading contender for outperformance in 2021, according to analysts at Nordea Markets, Goldman Sachsand HSBC among others, who cite the likelihood of Norges Bank interest rate rises this summer for upgraded or otherwise simply bullish forecasts. 

The New Zealand Dollar was a laggard Thursday but remained the comeback currency of the final-quarter, if-not year overall, and is widely forecast to extend its recovery in 2021 even if an ever-watchful Reserve Bank of New Zealand (RBNZ) does again constrain the pace of its appreciation. 

The Pound-Canadian Dollar remained volatile in illiquid holiday trade on Tuesday as time slipped away from Brexit negotiators, bringing a cliff edge and ratification risks into focus for an already badly bruised Sterling. 

Pound Sterling remains among the worst performers for 2020 and the economy one of the most badly affected by the coronavirus, although if an acrimonious Brexit is avoided this month, both the economy and currency could quickly become a contrarian's contenders for outperformance in 2021. 

Europe's single currency was treading water against the Dollar but declined against a majority of its other major counterparts even as stock markets advanced amid an upbeat investor mood that was resilient to a creeping encroachment of new coronavirus restrictions on city and state economies in the U.S.

The Australian Dollar remained an outperformer for the week and month on Friday but has been tipped as a buy at Westpac, with any dips in the main exchange rate AUD/USD viewed as offering buying opportunities, although the outlook for GBP/AUD remains hinged on Brexit trade talks that are in their final stage.

The Canadian Dollar remained an underperformer for the month and year this week but has been tipped as a buy at Goldman Sachs and BMO Capital Markets who between them see the Loonie outperforming over short and medium-term horizons, 

The Rand was in comeback mode Tuesday having outperformed major developed and emerging market rivals but the South African currency has significant scope to advance further in the months ahead, according to upgraded forecasts from Goldman Sachs.

The Pound-to-Euro exchange rate set itself on course for a third consecutive gain on Thursday and was tipped by technical analysts for an extended run higher amid an ebbing downtrend on the charts, with highs up near early June levels billed as possible for the coming days. 

The Swiss Franc's relentless rally against the Dollar will come to an end at the same time as the Euro-Dollar rate turns lower although when USD/CHF does reverse higher it could possibly be at the instigation of the Swiss National Bank (SNB). 

The South African Rand headed for its worst week since April on Friday after investors turned to European currencies for refuge from an unravelling Dollar and a resurgent coronavirus, given improved growth prospects on the old continent and fading yield appeal of emerging markets. 

The Rand wobbled alongside other risk currencies Tuesday while new, upgraded forecasts from Goldman Sachs suggest the South African unit may already have peaked after a three week rally against the Dollar and Pound. 

Analysts at Wall Street's Goldman Sachs say they maintain the view the Euro will rally back towards the 1.20s over coming months, but a note to clients out ahead of the new week suggests the call does not enjoy the conviction it might once have commanded.

Technical strategists at Goldman Sachs have singled out the EUR/GBP exchange rate as one to watch in their latest series of technical studies, saying the outlook is ultimately bearish for the Euro against the British Pound.

Sheba Jafari, an analyst with Goldman Sachs says near-term could see the Pound remain under pressure, but ultimately a floor should be found in the 1.22 region.

Following the sharp fall in Pound Sterling on September 21, we hear from strategists at Goldman Sachs that narkets might have overreacted.

The Euro is set to outperform the British Pound and other major currencies according to the latest update to the foreign exchange forecasts held by Goldman Sachs.