Weekly analysis of the Swiss Franc Euro pair
EUR/CHF Before the SNB Meeting
One week before the Swiss National Bank (SNB) meeting, the censure of the French government was widely expected by experts to drag European financial markets into turmoil. Many anticipated a decline in the euro against the dollar, given that France, the eurozone’s second-largest economy, carries significant weight within the bloc. Yet, the EUR/CHF exchange rate remained unfazed.
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A chill wind blows over EUR CHF
We last left the EUR/CHF currency pair seemingly stable around the 0.9400 level. However, this was before the euro’s tumble against the dollar in the aftermath of the U.S. elections. While the “Trump trade” effect has waned in financial markets, the greenback’s strength continues to weigh heavily on the euro, especially today, which in turn impacts the EUR/CHF exchange rate. Will the Swiss National Bank (SNB) allow its currency to decouple from the euro, at the risk of jeopardizing Switzerland’s economy?
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