EUR/CHF: Tough times for the SNB – ING

  • The Swiss franc has surged amid global equity turmoil and waning confidence in the dollar. With the SNB likely to cut rates reluctantly in June and FX interventions constrained by U.S. trade threats, the franc may stay firm — though Q2 risks remain if risk assets continue to slide, ING's FX analysts Francesco Pesole and Chris Turner note.