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Jun 04 - 08:55 AM

EUR/CHF - Falls To 0.9700 On Carry Trade Unwinds

By Rob Howard  —  Jun 04 - 06:55 AM
  • EUR/CHF drops to 0.9700 EBS six-week low on franc-funded carry trade unwinds

  • 0.9780 was early Europe EBS high, after Swiss CPI data matched 1.4% forecast

  • Low-yielding yen also racks up big gains, courtesy of carry-trade unwinds

  • Franc gains can carry SNB to June 20 interest rate cut nL1N3I20KK

  • 0.9743 (Monday's EBS low) is now a EUR/CHF resistance level

  • EUR/CHF scaled 13-month EBS peak of 0.9930 at start of last week (May 27)

Source:
Refinitiv IFR Research/Market Commentary

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