CHF STILL ENJOYS “SAFE HAVEN” ALLURE, BUT THIS FACTOR WILL BE LESS SUPPORTIVE IN THE COMING WEEKS

Economists at HSBC discuss the Swiss Franc outlook. Its “safe haven” is likely to be less supportive in the coming weeks.

CHF to move largely sideways against the USD in the weeks ahead

“The CHF can still enjoy occasional ‘safe haven’ allure, but we expect this factor will be less supportive in the coming weeks.” 

“CHF weakness against the EUR may be tempered but not reversed by SNB FX interventions.” 

“We expect the CHF to move largely sideways against the USD in the weeks ahead.”