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Standard Chartered: buy EUR/CHF

Standard Chartered economists note that EUR/CHF depreciated to the SNB 1.2000 floor recently, following EUR/USD. At the same time, the recent Swiss GDP data disappointed to the downside.

According to the bank, the decline in EUR/CHF in combination with poor economic data makes the SNB action on the September 18 meeting very likely.

That’s why analysts recommend going long on EUR/CHF in order to protect against the ECB disappointment and the potential for new actions from the Swiss National Bank.

Chart. Weekly EUR/CHF

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