EUR/CHF can jump back up to the 0.9550 area – ING

Economists at ING analyze Franc’s outlook ahead of the Swiss National Bank (SNB) meeting.

Has the SNB been both buying and selling FX?

Presumably, the SNB will cut its inflation forecasts. Having consistently sold FX since last year – delivering nominal CHF appreciation and keeping the real Swiss Franc stable – we are interested to hear today whether the SNB has been both buying and selling FX. 

If it confirms it is on both sides of EUR/CHF, rather than just being a EUR/CHF seller, and we suspect EUR/CHF can jump back up to the 0.9550 area.