EUR/CHF falls below 0.93 amid market turmoil – ING
|
Elsewhere, the Norwegian krone is having a good rally today, ING’s FX analyst Chris Turner notes.
Norwegian Krone gains as inflation persists
"It had been hit hard on the global trade/lower oil/poorer liquidity story. Additionally, this morning has seen another sticky core inflation release for March, where underlying inflation remains at 3.4% YoY. This may continue to delay the next Norges Bank rate cut."
"At the height of yesterday's market dislocation, we also saw EUR/CHF trading sub 0.93 again. One of many possible angles here is that the Swiss National Bank's hands may be tied when it comes to its traditional FX buying operations."
"Sustained FX buying from the SNB could see Switzerland formally named a currency manipulator and be given a top-up to its initial 31% reciprocal US tariff. This may only embolden investors to buy CHF in risk-off episodes – thinking the SNB bid in EUR/CHF will not be as solid as it once was."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.