EUR/CHF levels close to parity seem justified – Commerzbank EURCHF Inflation SNB Switzerland Banks
Upside scope in EUR/CHF is likely to be limited
“The important drivers for inflation remain import goods, but prices for domestic goods are also rising increasingly quickly. The SNB’s concerns that there might be second-round effects, therefore, do not seem too far-fetched so further monetary policy tightening over the coming months might become necessary. We are likely to hear comments of this nature from board members of the SNB in the near future and that is likely to support the franc principally.
“High inflation levels suggest that the SNB is more likely to be prepared to tolerate franc appreciation than depreciation. That means upside scope in EUR/CHF is likely to be limited.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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