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- EUR/CHF to advance nicely towards 1.09 into 2021 - Danske Bank
EUR/CHF to advance nicely towards 1.09 into 2021 - Danske Bank
FXStreet notes that in the opinion of economists at Danske Bank an expected higher EUR/USD near-term is set to lift EUR/CHF too.
“The SNB is preparing to continue sweating out the deflationary pressure in the Swiss economy and intervention remains the key policy tool. With the ECB set to hold rates and opt for other easing tools, Swiss policy rates are also set to stay unchanged at the longstanding -0.75% for an extended period of time.”
“Going into Q1, a potentially higher EUR/USD may shift EUR/CHF higher too, towards 1.09. The key for the pair is if global macro becomes so good in Europe that markets start talking about ECB rate hikes... Towards Q1, our base case is another jump higher in EUR/CHF.”
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