Bitcoin price today: gains to $120k, near record high on U.S. regulatory cheer
Investing.com - UBS has revised its Swiss franc forecast after the Swiss National Bank (SNB) showed less intervention in currency markets than expected, despite recent franc strength.
The bank lowered its year-end EUR/CHF target to 0.9400, tempering expectations that SNB policy would drive the euro higher against the Swiss franc. UBS had previously projected the pair would reach 0.9650 by the end of 2025.
For the USD/CHF pair, UBS maintained its bearish outlook, still projecting further downside to 0.7650 by the end of 2025. The pair has already reached and traded through UBS’s end-Q2 target of 0.8050.
The revised forecast comes after UBS observed that while the SNB likely intervened with approximately 5 billion in estimated CHF sales in April, it conducted no such operations in May. This intervention pattern was less persistent than UBS had anticipated.
In April, UBS had expected the SNB would "react to the threat from franc strength to its price stability objective by resuming CHF sales forcefully," but the central bank’s more limited intervention has prompted the forecast adjustment.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.