EUR/CHF: CHF net positions remained in positive territory for four consecutive weeks – Rabobank

Jane Foley, a Senior FX Strategist at Rabobank, reviews the Commitment of Traders report highlighting the positive net positions on the Swiss franc. EUR/CHF is trading at 1.064.

Key quotes

“In January demand for the CHF was lifted by the news that the US Treasury put Switzerland back on its FX monitoring list after a short break.”  

“Speculators appeared to have taken the view that this may make the SNB less inclined to intervene to prevent further CHF gains.”

"Safe-haven demand linked with the coronavirus and weak German data have also lent support.”