EUR/CHF climbs back above parity. Economists at MUFG Bank believe that the pair could climb as high as 1.04.
SNB is becoming more tolerant of a weaker CHF
“The SNB has confirmed that it has been intervening to support the Franc recently to prevent a sharper move lower from reinforcing upside inflation risks. Yesterday’s move higher could then encourage speculation that the SNB is becoming less concerned by upside inflation risks and more tolerant of a weaker CHF.”
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