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Jul 19 - 12:55 PM

CHF: Upside Corrective; Staying Long EUR/CHF - Credit Agricole

By eFXdata  —  Jul 19 - 10:45 AM

Credit Agricole CIB Research discusses CHF outlook and maintains a bearish bias and a long exposure in EUR/CHF as a long-term trade.

"With the CHF not far from levels where it may increase downside risks to price growth more meaningfully again, and when considering that core inflation remains weak, it appears unlikely that the CHF faces strongly rising upside risks from here," CACIB notes. 

"After all, the SNB has been reiterating of late that a policy mix consisting of negative rates and currency intervention as needed will stay in place for longer, with all its implications for the CHF. That said, we remain in favour of fading currency strength while staying long EUR/CHF as a trade recommendation," CACIB adds. 

Source:
Crédit Agricole Research/Market Commentary

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