The Swiss National Bank reconfirmed its intension to maintain the EURCHF exchange rate around 1.20 during the September meeting. The strengthening of the Swiss Franc threatens the national economy. Therefore, the central bank is determined to keep pursuing the current policy.
Julius Baer Group and UBS AG also expect the SNB to keep defending the mentioned EURCHF exchange rate in 2013. The SNB came up to analysts’ expectations by leaving the interest rates unchanged.
Forex.
According to , the Swiss Franc keeps strengthening against the US Dollar. The experts report that USDCHF is forming a big-scale downswing represented by wave 3 or C of level Weekly.
The current bearish move will be completed as soon as the price overcomes the top of the MF sloping channel and consolidates below 0.9607 (as shown below).
