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Dec 30 - 06:55 AM

EUR/CHF - COMMENT-EUR/CHF Set For 1.00 If CPI Gap Becomes Canyon

By Rob Howard  —  Dec 30 - 04:43 AM

The risk of EUR/CHF falling to 1.00 for the first time since 2015 will increase if the inflation gap between the euro zone and Switzerland becomes cavernous in 2022.

In mid-December, Swiss National Bank Governor Thomas Jordan said the reason why the franc remains "highly valued" is "inflation abroad, which is at present noticeably higher than it is in Switzerland". nZ8N2P6022nL8N2T124W

Swiss inflation data for December is due on Jan.
4, with annualized CPI forecast to tick up to 1.6%, from 1.5% in November.
Eurostat's flash estimate of euro zone inflation for December follows on Jan.
7 -- with the probability of an increase from November's 4.9% record high raised by Thursday's data showing annual Spanish inflation jumped to 6.7% in December, compared to the 5.7% forecast. nL8N2TF0VK

EUR/CHF was last at 1.00 in January 2015 (after the Swiss National Bank unexpectedly scrapped its 1.20 floor).
1.0363 was Wednesday's 77-month EBS low. nL1N2TE0IF

Related comments: nL1N2T10RLnL1N2T60K5

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Source:
Refinitiv IFR Research/Market Commentary

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