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- EUR/CHF to decline towards the 0.95 mark – ING
EUR/CHF to decline towards the 0.95 mark – ING
After the Swiss National Bank’s (SNB) 50 bps hike in June, EUR/CHF has seen an orderly decline. Economists at ING expect the pair to grind towards 0.95.
Italian elections should also contribute to the EUR/CHF decline
“Remember this is a brave new world, where the SNB wants Swiss franc appreciation to keep the real exchange rate stable”
“Look for EUR/CHF to grind towards 0.95, with expectations that the SNB match the expected 50 bps hike from the ECB in Sep.”
“Italian elections on September 25th should also contribute to the EUR/CHF decline. Italian BTP-German Bund spreads could easily widen to 240 bps again and keep the CHF in demand.”
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