Goldman Sachs, Morgan Stanley both looking for lower CHF


A couple of snippets on the Swiss France, via eFX. 

  • SNB sight deposits have picked up slightly in recent weeks, but we do not yet see clear evidence that the central bank has stepped in to curb CHF strength
  • We still think the fundamental outlook points to a weaker Franc ahead, but it will take some stabilization in the global growth outlook for this trend to resume

MS are looking for higher US yields, citing the Federal Reserve moving closer to a taper, which should support the US dollar, particularly against low-yield CHF and JPY


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