EUR/CHF went briefly below 1.03 this morning. If Ukraine tensions escalate further, the pair will trade below the aforementioned level, economists at Danske Bank report.

When tension ease, EUR/CHF will trend higher

“As long as uncertainty remains high, EUR/CHF will trade to the low side and is likely to move below 1.03 near-term if the situation escalates further.” 

“Whenever the situation eases, we expect the cross to move higher again.”

See: EUR/CHF to tank towards 1.00 if situation in Ukraine worsens further – ING