The franc’s drop against the euro this month isn’t enough to lead to a change in stance by the Swiss National Bank in softening its rhetoric on Thursday against a “highly valued” currency, according to Goldman Sachs Group Inc. and Danske Bank A/S.
“The cross is still far off the 1.20 level where we think the SNB will need to see it before shifting into ‘exit’ mode,” said Christin Tuxen, chief currency analyst at Danske.
Analysts in a Bloomberg survey now predict this level will be breached in 2019, after saying a month ago it would happen this year.
SNB will announce it's interest rate decision today at 10:30 (GMT+2).
Source: Bloomberg Pro Terminal
Trader-G.Bozhidarov
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