FXStreet reports that analysts at Rabobank suggest that, while the CHF is an established safe haven, it has a particular sensitivity to bad news in Europe. EUR/CHF is trading at 1.0574.

“We see the EUR as having held up fairly well earlier this month to the surge in USD demand.  However, increased signs of political friction in the region would threaten the outlook for the EUR and weigh on EUR/CHF.”

“Overall, despite the ongoing efforts of the SNB to provide stability in the exchange rate, we see risk of a move lower to 1.04 on a 3 month view.”