EUR/CHF to see a sustained move lower – Danske Bank
Economists at Danske Bank expect the EUR/CHF to move gradually lower.
Upside potential in the near-term if the SNB decides to fully stop intervening
We expect FX intervention to continue to limit imported inflation and thus keep a cap on EUR/CHF in the near-term.
We forecast a sustained move lower in EUR/CHF on the back of fundamentals, continued tight financial conditions and a global growth slowdown.
We target the cross at 0.94 in 6-12M.
If the SNB decides to fully stop intervening, we see upside potential to EUR/CHF in the near-term. Likewise, global growth holding up remains an upside risk.
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