Back

USD/CHF pressures are indirect - Societe Generale

FXStreet (Guatemala) - Sebastien Galy, Senior FX Strategist at Societe Generale explained that some argue that as EUR is sold only USD is bought given that it offers yield.

Key Quotes

“This pressure on the EUR is therefore indirect vs CHF."

"The SNB would then need to weaken the CHF likely via negative rates or be forced to intervene and buy long dated gvt bonds in the Eurozone. It's balance sheet would expand and as long as it runs a positive carry it is all quite sensical, if potentially fraught with political consequences at home."

EUR/GBP rebounds but still below 0.7800

The euro managed to recover some ground against the pound during the last hours but it was unable to erased losses and is headed toward the first close below 0.7800 in years.
Leia mais Previous

USD/JPY consolidates above 109.60

Greenback remained steady against the yen during the last hours, consolidating daily gains, as it traded around 109.70. USD/JPY was rising for the third day in a row and headed toward the highest monthly close since 2007.
Leia mais Next