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Oct 20 - 09:55 AM

EUR/CHF: Looking For Further Downside Towards 1.0500 - Credit Suisse

By eFXdata  —  Oct 20 - 09:04 AM

Credit Suisse maintains a bearish bias on EUR/CHF targeting a move towards 1.05 over the coming weeks.

"The results of the German election have so far confirmed our base case scenario in which we saw only limited EURCHF upside. In the event, EURCHF subsequently even declined, validating our second main argument that monetary policy divergence between the euro area and Switzerland should continue to weigh on the currency pair," CS notes.

"Having narrowly missed our initial target of 1.0650, we believe that there is a risk that SNB FX intervention might be less aggressive from here and consequently could see EURCHF grinding lower to our new 1.0500 target," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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