An Oct. 19 United Overseas Bank (UOB) forecast reported by FXStreet identified 0.8200 francs per dollar as a possible USD/CHF level over one to three weeks, implying a stronger Swiss franc against the U.S. dollar.
That target was below the Swiss National Bank’s (SNB) Oct. 19 listing of 0.8245 francs per dollar. USD/CHF measures francs per dollar, so a fall toward 0.8200 would mean the dollar buys fewer francs.
FXStreet said Quek Ser Leang and Lee Sue Ann, UOB’s currency strategists, put USD/CHF in a 0.8220-to-0.8270 range for their Oct. 19, 24-hour view. That range was narrower than their previous 0.8255–0.8310 band, and the SNB’s listed rate fell within it. FXStreet said a rebound had slowed the dollar’s decline against the franc.
For the one-to-three-week outlook, the strategists identified 0.8300 as strong resistance, FXStreet reported. The forecast levels and short-term range are UOB’s views as relayed by the outlet.
The SNB kept its policy rate at 0% on Sept. 24 and said it was willing to act in the foreign exchange market if necessary. The Federal Reserve’s next policy meeting is scheduled for Oct. 27–28, followed by the SNB’s next monetary policy assessment on Dec. 10.
