EUR/CHF to tick down towards 0.95 in the next three months – Citibank
|Economists at Citibank expect the EUR/CHF to move lower over the next three months. The target is set at 0.95.
Fade strength
“CHF weakened considerably following a marginally dovish hike by the SNB in September. We like fading this move and forecast a stronger franc in the short-term. Our 0-3m forecast is 0.95.”
“In the SNB’s last meeting in September, they hiked policy rates by 75 bps to 0.5%, exiting negative interest rates. Despite the move, markets were underwhelmed by the decision, as SNB President Jordan hinted at a possibility of full-point hikes after the ECB hiked by 75 bps.”
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