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Nov 09 - 12:55 PM

CHF: Waiting For A More Hawkish SNB; How To Trade It? - Credit Suisse

By eFXdata  —  Nov 09 - 10:45 AM

Credit Suisse maintains a bearish bias on EUR/CHF but now targets the cross at 0.95 by year-end. For shorts, CS looks to place the stops around 1.0055.

"We continue to stick to our bearish EURCHF view but acknowledge the upside risks mainly stemming from a less aggressive SNB and a more hawkish ECB going forward," CS notes.

"Therefore, we adjust our end-of-Q4 target to 0.9500, close to the recent lows in Sep, from 0.9000. As the current spot rate is near the 0.9955 level at which we said in our last update our view would be incorrect, we allow for more leeway and raise the level to 1.0055 as we head into two SNB policy maker speeches," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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