SNB in focus: We stay long EUR/CHF - Credit Agricole
A snippet on a Swiss National Bank preview via eFX
Credit Agricole CIB FX Strategy Research notes that this week's main focus for CHF traders will be on the SNB monetary policy announcement, from which CACIB sees little scope for surprises.
"The policy mix should prove sufficient in keeping the franc's safe haven appeal comparatively low, especially when comparing to the JPY.
As a result we believe crosses such as EUR/CHF should remain subject to a very gradual uptrend," CACIB argues.
In line with this view, CACIB maintains a long EUR/CHF* position from 1.1320 targeting 1.18.