The Swiss franc hovered just above a three-month low against the single European currency in early trading on Monday, starting a week filled with economic data on a weak note.
The euro rose to 1.5767/70 francs, hovering close to a three-month high, versus 1.5761/66 francs late in the previous session on Friday.
"Unless the Swiss National Bank shows increased unease about the ongoing weakening of the Swiss franc versus the euro and its possible impact on import prices, the momentum for higher euro/swiss franc rates remains in place," said UBS in its daily bulletin.
Swiss retail sales for January, scheduled for release on Monday, and the KOF leading indicator for March, which is due on Wednesday, would give fresh momentum to the currency pair.
"We are looking for another solid retail sales report out of Switzerland, " UBS said.
"Having reached elevated levels and looking at the slowing dynamics we expect a stabilisation of this series at admittedly elevated levels," the bank said. The dollar stood at 1.3082/84 Swiss francs, down from the 1.3116/21 francs level late on Friday as traders waited to see whether the Federal Reserve would flag more credit tightening ahead after an expected interest rate rise at this week's meeting.
The Fed begins a two-day meeting on Monday and is widely seen lifting rates to 4.75 percent from 4.5 percent in what would be the 15th straight increase in its campaign that helped boost the dollar 15 percent against the euro and yen last year.
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