25 Jun 2015
EUR/CHF seen edging higher, SNB’s Jordan to sound neutral – Danske Bank
FXStreet (Edinburgh) - Pernille Henneberg, Senior Analyst at Danske Bank, believes the cross could climb further towards year end.
Key Quotes
“SNB president Jordan is due to speak today and could thus elaborate on the SNB decision to keep rates unchanged last week”.
“However, in light of the wealth of information out at the June meeting and given that we still do not have a final solution for Greece, Jordan will probably not send any new policy messages”.
“Rate markets have taken a little of the pricing of a SNB cut but still see 3M Libor lower into the autumn”.
“We do not think this will happen provided a Greek solution is found but rather look for EUR/CHF to head higher on EUR strength late this year when downside from the relative monetary policy vis-à-vis the US has played out”.
Key Quotes
“SNB president Jordan is due to speak today and could thus elaborate on the SNB decision to keep rates unchanged last week”.
“However, in light of the wealth of information out at the June meeting and given that we still do not have a final solution for Greece, Jordan will probably not send any new policy messages”.
“Rate markets have taken a little of the pricing of a SNB cut but still see 3M Libor lower into the autumn”.
“We do not think this will happen provided a Greek solution is found but rather look for EUR/CHF to head higher on EUR strength late this year when downside from the relative monetary policy vis-à-vis the US has played out”.