The US has labeled Switzerland as a “currency manipulator” and triggered volatility in the Swiss franc. What’s next?
Here is their view, courtesy of eFXdata:
Citi discusses the CHF outlook and flags a scope for long USD/CHF and long EUR/CHF to outperform over the coming weeks on the back of the following 4 reasons.
“(i) the SNB will continue to intervene given current levels of EURCHF and USDCHF;
(ii) risk aversion on a US-Iran de-escalation should diminish;
(iii) troughing data in Europe will be short-term negative CHF; and
(iv) technical levels and price action make risk/reward attractive,” Citi notes.
For lots more FX trades from major banks, sign up to eFXplus
By signing up for eFXplus via the link above, you are directly supporting Forex Crunch.
Share
