ICYMI – SNB likely to cut rates twice more this year to counter CHF strength

Commerzbank on the Swiss National Bank and Swiss franc, looking for the currency to fall in the months ahead as the Bank cuts:

• SNB have clearly expressed that the strength of the Swissy is not welcome
• Swiss National Bank is “therefore likely to counter this with further interest-rate cuts in the coming months”
• SNB could cut rates twice more this year
• CHF falls should be limited, Commerzbank argue, as global demand for safety is unlikely to disappear

Commerzbank forecasts EUR/CHF to 0.98 by December.

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Earlier:

• ICYMI: Swiss National Bank Chair Jordan ready “to intervene in FX market” if necessary

EUR/CHF update:

This article was written by Eamonn Sheridan at www.forexlive.com.