Lombard Odier raised its dollar-franc forecast from 0.83 to 0.85, a firmer view of the U.S. currency that it linked to U.S. growth prospects and reduced concern over Federal Reserve independence.
The revision adds 0.02 franc to the bank’s projected value of a dollar. Separately, its 12-month euro-dollar projection stands at $1.09, a view it had disclosed by Oct. 13.
The bank raised its recommended dollar allocation to neutral from underweight in June. It also holds a neutral view of the dollar against emerging-market currencies.
The Swiss National Bank listed 0.8245 francs per dollar for Oct. 19. FXStreet reported that United Overseas Bank identified 0.8200 francs per dollar as a possible level over one to three weeks, as an earlier EconoTimes report on the bank’s outlook noted.
The Federal Reserve’s next policy meeting is scheduled for Oct. 27-28. The Swiss National Bank’s next rate decision is set for Dec. 10.
