EUR/CHF remains under pressure and posted a fresh low at 1.0235 in today’s London session. The Greek drama continues, which is keeping the EUR offered and the CHF bid across the board. Most bank analysts think that EUR/CHF will eventually recover, with Julius Bär calling for the pair trading at 1.05 over the coming three months. However, many think that it would need a further decline in the exchange rate for the SNB to intervene in size. Credit Suisse sees the line in the sand for the SNB at 1.00. EUR/CHF is currently trading at 1.0251.
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