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- USD/CHF seen recovering to the 0.92 area on a three-month view – Rabobank
USD/CHF seen recovering to the 0.92 area on a three-month view – Rabobank
At the start of last week, less hawkish remarks from some Fed officials likely contributed to the push lower in USD/CHF. Economists at Rabobank analyze the pair’s outlook.
Hawkish commentary in the forthcoming Fed meeting could trigger another round of broad-based USD buying
Although the market is of the view that the Fed will keep rates higher for longer, market implied rates in the short end of the curve have softened a touch ahead of the November 1 FOMC policy announcement.
It has been our view for some time that the Fed will leave rates on hold next month. That said, we expect broadbased USD strength to prevail into next year with weaker growth in China and the prospect of recession in the Eurozone in H2 this year and possibly in the US early next year adding to the potential for a safe haven bid in the USD in early 2024.
We see USD/CHF recovering to the 0.92 area on a three-month view.
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