The CHF/JPY is currently in consolidation, with traders seeking for fresh triggers ahead of the BoJ's policy decision on 31 July.
The EUR/CHF pair is trading within a clear divergence between the two central banks. The ECB raised rates by 25 basis points on 11 June, lifting the deposit rate to 2.40% — its first hike since 2023 — after eurozone inflation climbed to 3.2% in May on the back of the Middle East-driven energy shock.
The Swiss franc remains influenced by two opposing forces. On the one hand, there is steady demand for safe-haven assets amid tariff-related risks stemming from the United States.
The US dollar is up verses all the DXY index currencies except the Swiss franc. We discuss why and explore opportunities in the USD/CHF pair.
The US dollar is up verses all the DXY index currencies except the Swiss franc. We discuss why and explore opportunities in the USD/CHF pair.
EUR/CHF: Short-term bounce, longer-term decline – Commerzbank
USD/CHF: Limited SNB tools to downside – Commerzbank
EUR/CHF: Higher Oil seen lifting cross – ING
EUR/CHF: SNB threat seen as limited deterrent – Commerzbank
Instead, the latest COT data suggests a broader clean-up of positioning, with traders reducing exposure across FX markets as geopolitical risks and volatility rise.
EUR/CHF: SNB focus shifts to strong franc – Commerzbank