#EURCHF @ 0.99238 to move slightly lower on the back of fundamentals and retightening financial conditions – Danske Bank
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EUR/CHF has been highly volatile. Economists at Danske Bank expect a cap of just below 1.01.
“At present, we do not believe that inflation has come sufficiently down for the SNB to conclude its hiking cycle or allow a significant depreciation of CHF. On the contrary, the latest inflation print for February showed that both headline and core inflation have once again accelerated after moving lower the past months.”
“We continue to expect a cap in EUR/CHF of just below 1.01. Further out, we continue to forecast the cross to move slightly lower on the back of fundamentals and a re-tightening of financial conditions.”
“If the SNB decides to fully stop intervening, we see upside potential to EUR/CHF in the near-term.”
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