EUR/CHF remains under pressure by Milan Cutkovic

  • 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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