EUR/CHF set to move downward to 0.99 – Credit Suisse

Economists at Credit Suisse see the risks for the Swiss National Bank’s (SNB) meeting skewed in a hawkish direction and revise tehir EUR/CHF target lower from 1.01 to 0.99.

Rate hike by the SNB on the cards

“We see the risk that the central bank will alter its language regarding the franc's value and shift its long-term inflation forecast upwards. We would also not be surprised if the SNB were to hike interest rates by 25 bps.”

“We shift our previous target from 1.01 to 0.99 and would consider our view incorrect at 1.0551, slightly revised upwards from 1.0525 previous.”