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May 18 - 11:00 AM

EUR/CHF: Growing Risks Of A Non-Linear Move Lower - Standard Chartered

By eFXdata  —  May 18 - 08:28 AM

Standard Chartered Research flags a risk of a break lower in EUR/CHF.

"There are a lot of similarities between now and January 2015, in terms of SNB intervention scale...The question now is, if the SNB changed its FX policy in January 2015 after intervening to a similar degree, does this suggest that it may change FX policy again?," SC notes. 

"At that time the SNB stepped back from the 1.20 EUR-CHF floor. While predicting the timing of them stepping back from the 1.05 level (rough floor in place in terms of intervention level) is difficult, we think the probability is increasing," SC adds. 

Source:
Standard Chartered Research/Market Commentary

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