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- EUR/CHF: Scope for move higher in H2 - Danske
EUR/CHF: Scope for move higher in H2 - Danske
eFXdata reports that Danske Research discusses EUR/CHF outlook and targets at 1.08 in 1-3months, and 1.10 in 6-12 months.
"Following the relief rally in EUR/CHF since early summer 2020, spot has been unchanged and intervention remains the key policy tool. Swiss policy rates are thus set to stay unchanged at the longstanding -0.75%. Going into Q1, EUR/USD took a step lower and with it EUR/CHF too. Currently, upside risk to European inflation and demand seems very limited (due to lockdowns). In turn, the near-term potential to see a weaker CHF also appears limited," Danske notes.
"We see balanced risks to EUR/CHF near term. If EUR/CHF is to move higher, it would be likely to happen in tandem with opening up the European economy from H2 onward," Danske adds.
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