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May 21 - 07:24 AM

EUR/CHF - UK Name Goes Short EUR/CHF With A Target Well Below 1.05

By Rob Howard  —  May 20 - 07:40 AM
  • Standard Chartered went short EUR/CHF at 1.06 today, stop 1.08, target 0.95

  • EUR/CHF was last at 1.08 in mid-Jan. EUR/CHF was last at 0.95 in Jan 2015

  • SC thinks risk of SNB stepping back from its "soft" 1.05 defence is rising

  • SC also sees "significant" risk of sharp move lower if EUR/CHF breaks 1.05

  • SNB fx intervention has helped to keep EUR/CHF above 1.05 through Q2 to date

  • EUR/CHF jumped to 1.0661 (EBS) on EU Recovery Fund news Monday nL1N2D10AU

EURCHF Click here

Source:
Refinitiv IFR Research/Market Commentary

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