UBS out with a client note on EURCHF and SNB 22 Nov
Courtesy of out good friends at Livesquawk.
"We expect the pressure on the franc to subside once the ECB’s QE comes to an end, allowing the SNB to hike rates sometime in Q218. SNB’s commitment to prevent a marked appreciation of the CHF below 1.08 along with our expectation of a rise in risk-assets over the medium-term suggests further strengthening is unlikely to persist.