Back
10 Dec 2015
EUR/CHF rangebound in the near-term – Danske Bank
FXStreet (Edinburgh) - According to Pernille Henneberg, Senior Analyst at Danske Bank, the cross points to a sideline pattern the short-term.
Key Quotes
“We expect no action from the SNB, i.e. policy rates to be kept unchanged and terms and conditions for sight-deposit accounts will likely be left untouched as well”.
“Markets price a small chance of a cut today and if we are right about no SNB cut, it would send EUR/CHF lower near term”.
“We still think the SNB will continue to use intervention as the first line of defence against any unwarranted CHF strength and we expect EUR/CHF to be kept in range near term and project 1.08 in 1-3M”.
“We expect SNB to stay put for the foreseeable future and still look for a gradual uptick in the cross to 1.11 in 6M and 1.15 in 12M”.
Key Quotes
“We expect no action from the SNB, i.e. policy rates to be kept unchanged and terms and conditions for sight-deposit accounts will likely be left untouched as well”.
“Markets price a small chance of a cut today and if we are right about no SNB cut, it would send EUR/CHF lower near term”.
“We still think the SNB will continue to use intervention as the first line of defence against any unwarranted CHF strength and we expect EUR/CHF to be kept in range near term and project 1.08 in 1-3M”.
“We expect SNB to stay put for the foreseeable future and still look for a gradual uptick in the cross to 1.11 in 6M and 1.15 in 12M”.