Swiss franc weakness has not been isolated to high-beta FX and the dollar, the euro is set to close its 10th consecutive week of gains vs the franc, spot last trade prints above 0.9800
A year that started with the cross about 600p lower has strongly reversed on bets that SNB rates will be lowered further, the cross remains below 2023 highs
EUR/CHF is now closing above its 50WMA, this is the first time the euro has sat above the average since September 2021. Parity is not far away but the median survey does not see the euro reaching such a level until the first quarter of 2025
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