Jane Foley, a Senior FX Strategist at Rabobank, reviews the Commitment of Traders report highlighting the positive net positions on the Swiss franc. EUR/CHF is trading at 1.064.
“In January demand for the CHF was lifted by the news that the US Treasury put Switzerland back on its FX monitoring list after a short break.”
“Speculators appeared to have taken the view that this may make the SNB less inclined to intervene to prevent further CHF gains.”
"Safe-haven demand linked with the coronavirus and weak German data have also lent support.”
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