JP Morgan target EUR/CHF lower in 2023, 0.92 by year end | Forexlive

JP Morgan EUR/CHF outlook for the upcoming year:

• Stay short EUR/CHF in cash

JPM are targeting:

• 0.95 in Q1 2023
• 0.92 by the end of 2023

JPM citing:

• CHF’s anti-cyclical properties and the SNB’s bullish policy regime shift for the currency point to further downside for EUR/CHF into 2023

• The CHF remains one of the best proxies of global growth, serving as a reliable hedge against lingering downside risks to the cycle next year
• Real rate differentials and Switzerland’s sustained current account surplus remain bullish CHF tailwinds, particularly vs. EUR.
• Deleveraging flows should also be CHF-supportive.