Swiss GDP Strength May Cap Franc Losses vs Euro: Rabobank
Rabobank says Switzerland’s stronger-than-expected Q2 GDP and resilient economy may limit Swiss franc losses against the euro, though EUR/CHF is still trending gently higher.
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Rabobank senior FX strategist Jane Foley highlighted Switzerland’s stronger-than-expected Q2 GDP and resilient economic backdrop. The data point to underlying strength in the Swiss economy even as broader currency markets remain focused on European crosses.
Despite that resilience, EUR/CHF remains in a gentle uptrend, according to the note. That suggests any franc weakness against the euro may be contained rather than accelerating, but the pair has not yet reversed lower.
Source: FXStreet Forex News