The EUR/CHF currency pair is positioned just below the 0.9600 mark following the unveiling of Swiss inflation data. Analysts at ING provide insights into the pair’s future outlook.
Switzerland recently released its February Consumer Price Index (CPI) figures, revealing a modest uptick that exceeded expectations. Headline inflation decelerated from 1.3% to 1.2%, and core inflation followed suit, slowing from 1.2% to 1.1%, aligning with consensus forecasts.
Despite the inflation figures displaying a smaller-than-anticipated decline, the persistent disinflationary trend suggests that the new Swiss National Bank (SNB) President (following Jordan’s resignation last week) may avoid implementing additional measures that support the Swiss Franc (CHF).
EUR/CHF has exhibited robust performance recently, and although the target was set for a move to 0.9600 by spring, analysts at ING do not foresee a bearish reversal on the horizon. The analysis underscores the continuing strength of the pair, even in the face of Swiss inflation data.
