Credit Agricole CIB FX Strategy Research notes that the G10 FX main beneficiaries of the latest development on US tax reforms are pairs such as USD/JPY and USD/CHF.
This, in turn, suggests that selling interest in low yielders such as the CHF high. This is fully in line with this week’s risk index analysis," CACIB adds.
In line with this view, CACIB maintains a long EUR/CHF* position from 1.1320 targeting a move towards 1.18.
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