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- EUR/CHF: Testing the SNB’s tolerance at 1.03 perhaps? - ING
EUR/CHF: Testing the SNB’s tolerance at 1.03 perhaps? - ING
eFXdata reports that ING Research discuss EUR/CHF prospects.
"EUR/CHF looks to be one of the primary casualties of the ECB’s new symmetrical inflation targeting regime – which promises lower EUR rates for longer. The ongoing expansion in the ECB’s balance sheet as the ECB prints 100bn of euros per month stands in contrast to the SNB – where FX intervention has slowed. Low Swiss inflation means the real CHF is not quite as strong as nominal FX rates would suggest. A retest of the 2015 highs in the real exchange rate could mean SNB tolerates 1.03 in EUR/CHF," ING adds.
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