EUR/CHF: Strong chance to test the 1.05 low – Rabobank
|EUR/CHF has managed to steer away from the five-year low hit in the middle of April, but choppy trading in the past few sessions illustrates a reluctance to extend the softer tone in the CHF, per Rabobank.
Key quotes
“In the next few months, it is likely that data regarding economic activity and unemployment in countries across the world will continue to shock, causing further bouts of demand for safe-haven assets such as the CHF.”
“While measures taken by the ECB, will relieve politicians of part of their responsibility to provide additional support, any further signs of a lack of unity on fiscal measures could weigh on the EUR and boost inflows into the CHF.”
“We see a strong chance that the recent low near the EUR/CHF 1.05 will be tested in the coming months as we see risk of a move to 1.04 on a 3-month view.”
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