26 Mar 2015
SNB moving to a new form of FX regime? – Danske
FXStreet (Barcelona) - Christin Tuxen, Senior Analyst at Danske Bank, comments that speculation is strong that SNB might move to a new form of FX regime rather than targeting the effective level of CHF.
Key Quotes
“EUR/CHF edged higher again yesterday to now trade above the 1.05 level.”
“Whether the SNB helped foster the move higher in the cross should become evident when the weekly sight-deposit figures are released on Monday. In any case, the SNB has do to something to ensure deflation does not become further entrenched in the Swiss economy.”
“Speculation has mounted that the SNB would embark on a new form of FX regime rather targeting the effective level of CHF but last week’s meeting gave away little in the form of this.”
“Rather, with the IMF nod to consider a foreign-currency asset-purchase scheme, we stress that this could be the route for the SNB to go down.”
Key Quotes
“EUR/CHF edged higher again yesterday to now trade above the 1.05 level.”
“Whether the SNB helped foster the move higher in the cross should become evident when the weekly sight-deposit figures are released on Monday. In any case, the SNB has do to something to ensure deflation does not become further entrenched in the Swiss economy.”
“Speculation has mounted that the SNB would embark on a new form of FX regime rather targeting the effective level of CHF but last week’s meeting gave away little in the form of this.”
“Rather, with the IMF nod to consider a foreign-currency asset-purchase scheme, we stress that this could be the route for the SNB to go down.”