The Swiss franc has appreciated significantly versus the euro in the last couple of weeks and even briefly dipped below parity. Economists at Credit Suisse lower their EUR/CHF target to 0.97 and look to fade moves towards 1.03.

Fading moves towards 1.03

 “We believe that the downward pressure on EUR/CHF will likely persist for now and lower our EUR/CHF target to 0.97.”

“We suggest fading moves towards 1.03 potentially triggered by FX intervention and consider ourselves wrong at 1.0525.”