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- EURCHF to remain elevated at 0.98 next month but seen at 0.94 on a 12-month horizon – Danske Bank
EURCHF to remain elevated at 0.98 next month but seen at 0.94 on a 12-month horizon – Danske Bank
EURCHF has continued its move higher and is currently trading around 0.98. Economists at Danske Bank expect the pair to hover around that level in the near term before staging a downfall to 0.94 over the coming months.
SNB to hike by 50 bps in December
“We expect the SNB to hike by 50 bps in December bringing the policy rate to 1.00%. In the near-term, we expect relative rates to prove a headwind for CHF, why we expect the cross to remain elevated at 0.98 in 1M.”
“Further out, we continue to forecast the cross to move lower on the back of fundamentals and a tighter global investment environment. We forecast the cross at 0.94 in 12M.”
“The key upside risks to our forecast are global yield curves steepening amid a shift in the global investment environment and/or the SNB falling further behind the curve.”
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