Swiss Franc Could Rise Past Unofficial Line in the Sand
- Goldman sees franc reaching 1.02 per euro within three months
- Level was last seen in 2015 after SNB’s shock cap removal
Photographer: Stefan Wermuth/Bloomberg
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The franc, already at the strongest since 2015, can rally even further for Goldman Sachs Group Inc. as markets test the resolve of the Swiss National Bank to keep it in check.
The currency neared 1.05 against the euro on Thursday, the level that some market players deem to be the unofficial line the SNB defends. Investors should bet on the Swiss currency reaching 1.02 in three months, according to Michael Cahill, an economist at Goldman, making the call more bullish than most forecasts compiled by Bloomberg.