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3 Mar 2014
Flash: CHF demanded as risk-off sharpens – Danske Bank
FXStreet (Edinburgh) - Analyst Lars Christensen at Danske Bank argues the demand for the CHF is expected to accelerate in line with tensions in the Russia-Ukraine situation.
Key Quotes
“The Swiss franc could continue to be in demand on Ukraine-Russia developments and positioning data show that CHF shorts were indeed unwound last week whereas JPY did not see this kind of support”.
“Furthermore, increased Ukraine-Russia tensions are likely to increasingly weigh on other Central and Eastern European currencies such as the Polish zloty and the Hungarian forint”.
Key Quotes
“The Swiss franc could continue to be in demand on Ukraine-Russia developments and positioning data show that CHF shorts were indeed unwound last week whereas JPY did not see this kind of support”.
“Furthermore, increased Ukraine-Russia tensions are likely to increasingly weigh on other Central and Eastern European currencies such as the Polish zloty and the Hungarian forint”.