Aside from a brief move higher in late summer, EUR/CHF has been trending lower since March. Nonetheless, economists at Rabobank expect the pair to lurch higher towards 1.06 in the coming months.

Inflation to provide some interest for SNB watchers

“While inflation data in Switzerland may be a little more interesting in 2022 than it has been for some years, it would be a leap to assume that any SNB policy changes are likely.” 

“We expect EUR/CHF to edge higher on a three-month month view towards 1.06. This is built around the indication of various central banks including the SNB and the ECB that Omicron is unlikely to derail the recovery.”