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Oct 26 - 06:55 PM

EUR/CHF: Fade Strength Targeting 0.95 In 0-3 Months - Citi

By eFXdata  —  Oct 26 - 03:00 PM

Citi maintains a bearish bias on EUR/CHF targeting a move towards 0.95 in 3 months.

"CHF weakened considerably following a marginally dovish hike by the SNB in September. We like fading this move and forecast a stronger franc in the ST. Our 0-3m forecast is 0.95," Citi notes. 

"In the SNB’s last meeting in September, they hiked policy rates by 75 bps to 0.5%, exiting negative interest rates. Despite the move, markets were underwhelmed by the decision, as SNB President Jordan hinted at a possibility of full-point hikes after the ECB hiked by 75 bps," Citi adds. 

Source:
Citi Research/Market Commentary

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