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Dec 15 - 03:55 AM

EUR/USD - SNB's Return May Condemn EUR/USD To A Slow Fall

By Jeremy Boulton  —  Dec 15 - 02:34 AM
  • Switzerland steps up FX intervention vs flying franc nL1N2SY162

  • Intervention usually underpins EUR/USD before rebalancing weighs

  • SNB policy has a top and tailing affect for EUR/USD

  • SNB policy weighs vol and helps contain EUR/USD in tighter ranges

  • Policy unlikely to change the trend which is strongly down since June

  • EUR/USD is likely to sink but may do that more slowly

  • Pair has settled within 1.12-14 since signs SNB activity in EUR/CHF

  • Credit may limit SNB's ability to support EUR/CHF nL1N2SY0HJ


EURUSD, EURCHF and vol Click here

Source:
Refinitiv IFR Research/Market Commentary

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