EUR/CHF flies high at 0.9660. The economists of ING analyze the outlook for the Swiss Franc (CHF) ahead of Thursday's SNB meeting.
EUR/USD could fall if one of the main European central banks cuts interest rates
Data released today shows that the Swiss National Bank was still selling foreign currency in the fourth quarter of last year. It is possible that this quarter he switched to buying currencies, but this will not be confirmed until the end of June.
However, The focus is on Thursday's Swiss National Bank rate meeting, where some expect the first rate cut. It is not our opinion, but we do not rule it out, given that the SNB only meets four times a year, compared to eight for the ECB.
A surprise SNB cut would likely take EUR/CHF above 0.9700 and potentially USD/CHF higher as EUR/USD could decline if a major European central bank were to cut rates.
Source: Fx Street

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