The prior 6-month weakness of the Swiss franc against G-10 currencies has seen a short-term bullish reversal due to safe haven demand.
Ongoing political uncertainty arising from the upcoming French legislative elections reinforced the ongoing CHF strength which led to three consecutive weekly losses on the EUR/CHF cross pair.
A surprise dovish stance from the SNB monetary policy decision out on Thursday, 20 June may put a short-term halt to the ongoing CHF strength.
EUR/CHF short-term downtrend
19-06-2024 10:40 GMT
by Kelvin Wong