eFXdata reports that SEB Research discusses EUR/CHF outlook and targets the cross around 1.09 this year and around 1.15 over the coming year.

"The Covid-19 crisis has put an appreciation pressure on the safe-haven currencies including the Swiss franc. But the fast rebound in risk appetite is helping the Swiss National Bank in its quest to cap the CHF from rising further. Right now, the line in the sand is drawn at 1.05 by the SNB, the ultimate question is to what extent the currency is driven by strong fundamentals and decent valuation rather than safe-haven flows. Quite much we think," SEB notes. 

"In the long term we believe the CHF will have to weaken and EUR/CHF at around 1.15 is a reasonable long-term target. The constant/continued CHF-appreciation in combination with large external surpluses holding up makes the long-term risks skewed towards stronger swiss franc for longer," SEB adds.