• We forecast EURCHF at 1.25 by year-end and at mid-2014, and 1.30 at end-2014
• Recent CHF weakness reflects the general risk-on environment while also speculations about additional easing measures being imposed by the SNB
• It remains to be seen if equity markets stabilizes over the coming days, but if not, then EURCHF trading could be choppy with the downside exposed
• Over the coming months though, even if we keep our 3 month forecast at 1.25, and being conditioned on a near term equity market stabilization, we see the potential for the cross to move higher
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Nordea