EUR/CHF seen at 1.10 in 6-month – Danske Bank
|EUR/CHF is expected to edge higher towards the 1.10 handle in the medium term, suggested Jens Pedersen, Senior Analyst at Danske Bank.
Key Quotes
“Political uncertainty in Europe, coupled with rising geopolitical risks following the election of Donald Trump as the next US president, has supported CHF and put pressure on SNB to act to curb CHF appreciation pressure”.
“Political uncertainty looks to be a key theme for FX markets again this year”.
“EUR/CHF is still trading close to 1.07. We expect it to stay here in the near term as focus turns to European political uncertainty. Longer term, we continue to expect fundamentals to support a higher EUR/CHF and keep our 6M and 12M forecasts unchanged at1.10 and 1.13, respectively”.
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