27 Jun 2013
Flash: Buy USD/CHF, sit back and watch the rest - Societe Generale
Kit Juckes, Global Head of Currency Strategy at Societe Generale has recommended that investors buy USD/CHF.
He notes that the most striking FX move is the fall in EUR/AUD. He writes, “My awful tactical trade idea last week, stopped out well ahead of the FOMC meeting, would be back onside and indeed, looks set to go further. I’ll resist the temptation to have another go and would much rather watch AUD, NZD and CAD bounces, seeing chance to sell at higher levels. Likewise EUR/SEK, EUR/NOK are a buy on dips. I do think though, that if EUR/USD breaks 1.30 it can accelerate and USD/CHF is a good long.”
He notes that the most striking FX move is the fall in EUR/AUD. He writes, “My awful tactical trade idea last week, stopped out well ahead of the FOMC meeting, would be back onside and indeed, looks set to go further. I’ll resist the temptation to have another go and would much rather watch AUD, NZD and CAD bounces, seeing chance to sell at higher levels. Likewise EUR/SEK, EUR/NOK are a buy on dips. I do think though, that if EUR/USD breaks 1.30 it can accelerate and USD/CHF is a good long.”