Europe’s Recession to Fuel Franc Gains
- Euro-franc pair to reach 0.95 in coming months: CS’s Bindelli
- Franc may benefit from foreign investor interest in SNB bills
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The Swiss franc is likely to strengthen further early next year as investor concerns about the euro area’s faltering economy and debt levels will fuel haven flows into the currency, according to Credit Suisse Group AG’s head of foreign-exchange strategy.
Luca Bindelli sees the Swiss franc strengthening nearly 1% in coming months to 95 centimes per euro, the strongest level since a seven-year high hit in September. That would add to gains this year that have made it the top performer in the Group-of-10 against the common currency, apart from the dollar.