EUR/CHF short a preferred hedge against Greek tail risk – ING

FXStreet (Mumbai) – The FX Strategy team at ING notes that the resilience in the CHF despite SNB intervention indicates the market is biased towards EUR/CHF shorts as a preferred hedge amid Greek crisis.

Key Quotes

“Despite the EUR/USD rebound yesterday, EUR/CHF has remained lower in spite of the SNB FX interventions. This shows that the market looks to EUR/CHF shorts as a preferred hedge against Greek tail risk.”

“Expect the SNB to remain in the market and lean against CHF upside.”

The FX Strategy team at ING notes that the resilience in the CHF despite SNB intervention indicates the market is biased towards EUR/CHF shorts as a preferred hedge amid Greek crisis.

(Market News Provided by FXstreet)