CHF: How CHF Will Likely React To ‘Vollgeld’ Vote On June 10? - Citi

CitiFX discusses CHF outlook ahead of the important Swiss Vollgeld vote on June 10. see here for Danske view on the outcome of the Vollgeld vote.

"The Vollgeld referendum over the weekend looms large over the pair and most market participants will want to get square going in after the 2015 debacle.

Our view is that the vote will be a close call since there is still a lot of pent up anger at banks and this is a perfect protest vote.

We think that CHF rallies a bit if the result is a "No" but sells off hard if it is a "Yes". Tread carefully and good luck," Citi argues.