Overview
- Rabobank trims its three-month EUR/CHF forecast to 0.91 from 0.92, signaling a slightly stronger franc near term.
- UBS characterizes the currency as a rock of stability and does not expect systematic SNB intervention at current levels.
- RBC calls CHF the G10’s dominant risk-off currency and sees intervention as possible within a year, with options suggested to position.
- Morgan Stanley projects deeper gains for CHF, forecasting EUR/CHF at 0.87 and a bear-case USD/CHF move to 0.64, noting hedge funds are net long.
- Credit Agricole points to 0.90 as a psychological level after the break below 0.92, while exporter strain has yet to elicit aggressive policy.