Is It Time To Buy The EURCHF

One of the big questions for Forex traders now is whether to Buy the EURCHF around 1.2060 as it nears the 1.2000 price floor from the Swiss National Bank.  (For those unfamiliar, the SNB has placed a price floor on the EURCHF exchange rate at 1.2000. The purpose being to keep the Swiss franc weaker and allow Switzerland’s export market to remain healthy).  There has been lots of back and forth on this subject, but pretty much these are the two theories

SNB Meeting Puts Swiss Franc in Focus

The Swiss Franc is in Focus this morning as the Swiss National Bank is holding their monthly Interest Rate Meeting with their decisions to be announced at 8:30 GMT. For Forex traders, the main topic is whether the SNB will raise its floor of the EURCHF to 1.25 from 1.20.  Current consensus is that the central bank will refrain from any changes as improvements in the region’s economy have put less pressure on the Swiss export sector.    Currently, the EURCHF is trading at 1.2120 after hitting a high of 1.2140 this morning.  Overall, the pair has been shown strength this week as it has rallied from a week low of 1.2040.