#EURCHF @ 0.99706 : Stabilisation above parity seems likely – ING
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The Swiss Franc rose after the SNB hike. Economists at ING expect the EUR/CHF pair to stabilise above the 1.00 level.
“The SNB actively favours a stronger CHF to limit imported inflation, but the ECB-SNB policy differential and an improvement in European sentiment are tilting the bias towards a stronger EUR/CHF at the moment, where a stabilisation above parity seems likely in light of recent developments.”
The channel where we could see the SNB hawkishness play in favour of CHF is probably through USD/CHF, where we may see a break below the 0.9080 early-February lows, also aided by the generalised USD weakness.”
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