GBP/CHF: A break below 1.1870 to attract more downside momentum – TDS
|Analysts at TD Securities think GBP/CHF could serve as a better proxy for Brexit risks — particularly for those who may already have exposure to the USD and/or JPY.
Key quotes
“With sight deposits rising rapidly in recent weeks, we think the SNB has been busy trying to prevent CHF appreciation. We do not, however, think they are likely to prevent it.”
“With an eye on the end-April highs around 1.22, we think a break below 1.1870 is likely to attract additional downside momentum, particularly if risky assets begin to underperform in general.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.