UBS forecasts a slowly rising EUR/CHF over the coming 12 months

UBS are out with forecasts for EUR/CHF in a client note.

• See EUR/CHF fluctuating around parity in coming months
• Forecasts the CHF will be at parity with the euro for the next 6 months … will “put significant strain on the Swiss economy”
• Rising slowly to 1.05 over the next 12 months – view based on the assumption of a slow and steady normalization in the Eurozone
• Says that at around parity the CHF appears to more overvalued than at any time over the past 30 years

Not much more detail on this for now, I’ll see if I can dig up some more. Bloomberg with the headline.