18 Dec 2014
EUR/CHF forecast on SNB move - Rabobank
FXStreet (Guatemala) - Jane Foley, Senior Currency Strategist suggested that the SNB may have raised the stakes by announcing negative rates this morning.
Key Quotes:
“However, if the EUR comes under further downside pressure in the months ahead, EUR/CHF is likely to stay under pressure”.
“The SNB will therefore be watching closely the EUR’s reaction to the possibility of QE from the ECB”.
“It will also likely be nervously keeping an eye on headlines out of Greece and related safe haven demand. Despite the SNB’s action today, we have revised down our 3 mth EUR/CHF forecast to 1.20 from 1.21”.
Key Quotes:
“However, if the EUR comes under further downside pressure in the months ahead, EUR/CHF is likely to stay under pressure”.
“The SNB will therefore be watching closely the EUR’s reaction to the possibility of QE from the ECB”.
“It will also likely be nervously keeping an eye on headlines out of Greece and related safe haven demand. Despite the SNB’s action today, we have revised down our 3 mth EUR/CHF forecast to 1.20 from 1.21”.