FXStreet reports that analysts at ING discuss EUR/CHF prospects.

“Suffice to say, the SNB slightly cut growth and raised inflation forecasts, but core policy remains unchanged. It will be one of the last central banks in the world to raise rates. This week sees the SNB release details on its FX intervention in 2Q21. These had dropped to just CHF296 M in 1Q. EUR/CHF was naturally bid through most of 2Q meaning that FX intervention will probably be as low – but 3Q will be another matter.”

“We have noticed recently that EUR/CHF turned bid when the ECB hawks piped up. Another high Eurozone CPI figure this week could send EUR/CHF back to 1.09.”