EUR/CHF is staying very soft and USD/CHF is continuing to plumb new lows, ING’s FX strategist Chris Turner notes.

SNB to intervenes in both USD/CHF and EUR/CHF

“We are not far away from the December 2023 low at 0.8333. We have no evidence for this, but we suspect that the Swiss National Bank (SNB) intervenes in both USD/CHF as well as EUR/CHF.”

“Watch out for any spikes in USD/CHF should it start to trade under 0.84.”