The Swiss franc rose after the SNB raised interest rates. The ING Economists They expect the EUR/CHF pair to stabilize above the 1.00 level.
The franc is likely to gain ground against the dollar
“The SNB actively favors a stronger CHF to limit imported inflation, but the ECB-SNB policy spread and an improvement in European sentiment are tipping the bias towards a stronger EUR/CHF at the moment, where a stabilization above parity seems likely in light of recent events.”
The channel where we could see the SNB’s hawkish politics play into the CHF’s favor is probably through the USD/CHFwhere we could see a break below the 0.9080 lows from early February, also helped by broad-based USD weakness.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
