Swissie’s fate now depends on ECB, strategists say
Sudden directional turn in EUR/CHF is a welcome relief for the SNB, even though the move to 1.15 is thanks to the ECB
Yet again, the Swiss franc has market participants scratching their heads for an answer. Over the course of about a week, EUR/CHF pushed to 1.15 from 1.1 in a move some strategists describe as “a long way very quickly”.
The glide higher is, by some measures, the biggest two-week move seen by markets since the volatile weeks after the Swiss National Bank (SNB) removed the 1.20 floor in the cross in January 2015, CitiFX strategists argue. But, despite intervention by the SNB over the months, this
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