EUR/CHF: SNB to tolerate a slightly weaker France only once price pressure eases significantly – Commerzbank
|SNB is likely to be quite pleased about the strong Franc for the time being, economists at Commerzbank report.
Too early for significantly higher EUR/CHF levels
“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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