March 11, 2024 07:24 GMT
Morgan Stanley Recommend Short EUR/CHF
CHF
Friday saw Morgan Stanley recommend going short EUR/CHF.
- They noted that “front-end rates price a material probability of a cut at the SNB March meeting, which may not materialise due to stubborn services inflation and weak but stable growth.”
- “A no-cut outcome should drive EUR/CHF lower as the front end is repriced, supported by positioning data which looks stretched long EUR/CHF.”
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