#EURCHF @ 0.97150 : SNB to tolerate a slightly weaker France only once price pressure eases significantly – Commerzbank
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SNB is likely to be quite pleased about the strong Franc for the time being, economists at Commerzbank report.
“If it is possible to solve the row about the debt ceiling, the Franc might lose some ground again. However, the SNB is unlikely to accept a strong depreciation and in doubt would probably intervene on the FX market again. That means it is probably still too early for significantly higher EUR/CHF levels.”
“Only once the price pressure in Switzerland eases significantly over the course of the year, is the SNB likely to tolerate a slightly weaker CHF.”
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