CHF: To Stabilize Around Current Levels Coming Quarters; Where To Target? – CIBC

CIBC FX Strategy Research argues that there are still few reasons for the SNB to move any time soon.

"The weakening Swiss franc has, however, meant that the SNB had little motive to directly intervene in the market, as reflected in the sight deposit readings which continue to stabilize.

"As a result, look for CHF to stabilize around these currently weaker levels in the quarters to come," CIBC argues.

In line with this view, CIBC expects EUR/CHF to average around 1.15 through Q1 of 2018.

Source: CIBC Economics – CIBC Capital MarketsOriginal Article