EUR/CHF this week fell to its lowest level since Nov 2020, extending a downtrend that has been in place since late September. Concerns about slowing growth in the eurozone have led economists at Rabobank to downgrade their EUR/CHF one and three-month forecast to 1.07.
“In view of the slowdown in eurozone growth we have revised down our one-month and three-month EUR/CHF forecasts to 1.07.”
“On the assumption that the eurozone recovery remains in place, we expect a move back to 1.10 on a six-month view.”
“The November 2020 low around EUR/CHF 1.0660 will likely provide some support for the currency pair.”