Barclays Capital Research discusses EUR/CHF outlook, and sees a gradual upward path for the cross towards 1.19 in Q1, 1.20, in Q2, 1.22 in Q3, and and 1.23 by year end.

"..We find it too early to call for a change in the SNB’s view on the franc’s overvaluation or its willingness to intervene in FX markets. We expect SNB policy to remain expansionary for the foreseeable future, clearly lagging the ECB and supporting EURCHF appreciation.

With reduced SNB intervention and few known event risks on the horizon, we expect market participants to be encouraged to once again use the CHF as a funding currency," Barclays argues.

Source: Barclays ResearchOriginal Article