SNB Cautious, Swiss Franc Has Limited Downside – MUFG
MUFG's Derek Halpenny notes that the Swiss franc underperformed after the SNB left rates unchanged at zero, but minor inflation forecast revisions underscore expectations of persistently low inflation, limiting downside.
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MUFG's Derek Halpenny commented on the Swiss franc's performance after the Swiss National Bank (SNB) kept interest rates at zero. The franc underperformed following the decision. However, Halpenny pointed out that only minor revisions to inflation forecasts were made, which reinforces expectations of persistently low inflation in Switzerland. As a result, the downside for the Swiss franc is seen as limited.
Source: FXStreet Forex News