- EUR/CHF has hit a fresh multi-week low at 1.0274 today
- CHF continues to strengthen; not so much about risk aversion, but rather broad USD sales, including USD/CHF
- Pair likely to remain under pressure
- No clear signs of SNB intervention yet and the bank has lost a lot of credibility, so verbal intervention won’t do much
- Analysts at Credit Suisse, a leading Swiss bank, think that it would need a decline closer to 1.00 for the SNB to intervene
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