UBS: EUR/CHF to Reach 1.40
March 23, 2010 at 13:47 UTC || By Forex Playmaker
UBS has raised its forecast for the Swiss franc against the euro, predicting that the EUR/CHF will drop to 1.40 in the months ahead:
UBS AG, the world’s second-biggest currency trader, raised its forecast for the Swiss franc against the euro as the nation’s policy makers signaled they’re easing their opposition to an increase.
The franc will appreciate to 1.40 per euro in three months, compared with UBS’s previous 1.45 forecast, the Zurich-based bank said in a report dated yesterday. UBS said the Swiss currency will appreciate to 1.42 in one month.
…
“The justification for large-scale interventions is fading fast with deflation disappearing and economic indicators strong,” wrote UBS analysts including Mansoor Mohi-uddin in Singapore.
This latest forecast for the EUR/CHF follows a similar pronouncement by Barclays, which yesterday issued a target of 1.4000 for the currency pair.
Of course, both UBS and Barclays’ forecasts followed similar predictions issued by Forex Playbook over the last 10 days. What’s that perfectly sound logical argument? Now I remember … Post hoc ergo propter hoc.
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