EUR/CHF to see a sustained move lower – Danske Bank

Market news

21 November 2023

EUR/CHF to see a sustained move lower – Danske Bank

Economists at Danske Bank expect the EUR/CHF to move gradually lower.

Upside potential in the near-term if the SNB decides to fully stop intervening

We expect FX intervention to continue to limit imported inflation and thus keep a cap on EUR/CHF in the near-term.

We forecast a sustained move lower in EUR/CHF on the back of fundamentals, continued tight financial conditions and a global growth slowdown.

We target the cross at 0.94 in 6-12M.

If the SNB decides to fully stop intervening, we see upside potential to EUR/CHF in the near-term. Likewise, global growth holding up remains an upside risk.

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