Danske Bank sees risk in the euro growth to franc

Danske Bank believe in the Swiss franc

In brief: Danske Bank does not believe in further growth of the euro against the Swiss franc in the long term.

Euro continues to drop. As noted currency analysts Danske Bank, the total pressure on the euro and the Swiss Central Bank cessation interventions in the currency market triggered a downward momentum euro / franc. The bank believes that the relatively favorable economic improvement in the country and forecast rates, and more likely to eliminate loans in Swiss francs, would continue to support the national currency.

In Danske Bank reviewed their 3-month, 6-month and 12-month forecasts for the euro / franc downwards to 1.37, 1.37 and 1.41 to 1.30, 1.28 and 1.35, respectively. Nevertheless, foreign exchange bank analysts are cautious, noting that the increase in speculative interest in the franc and sell euro / franc as a protection against the collapse of the euro means that the recent decline in cross exhausted. Any improvement in sentiment on the euro will cause a sharp upward correction of the euro / franc. The current rate of 1.3173 pairs.

Anrey Torbinski
2010-07-01 14:34, Currency news.

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