SNB still ‘on hold’, EUR/CHF seen higher – Danske Bank

Christin Tuxen, Chief Analyst at Danske Bank, assessed the recent SNB decision and believes EUR/CHF could edge higher in the next months.

Key Quotes

“Also yesterday, the Swiss National Bank (SNB) kept policy rates unchanged as widely expected and, crucially, left its language on CHF unchanged, i.e. the SNB still characterises the franc as ‘highly valued’.

“The impact on announcement was limited but this in our view supports the case for a continued move higher in EUR/CHF in coming months, as it cements the view that the SNB is no hurry to exit”.