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Goldman recommends traders short the euro versus Swiss franc after ECB rate hike

Stock Markets Sep 08, 2022 15:22
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© Reuters. FILE PHOTO: A projection shows a 100 franc banknote in a window in Zurich, Switzerland December 16, 2021. REUTERS/Arnd Wiegmann
 
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LONDON (Reuters) - Goldman Sachs (NYSE:GS) recommends investors short the euro against the Swiss franc following the European Central Bank's record rate increase as they think it likely the Swiss National Bank will want to take action to arrest the franc's depreciation.

In a note published on Thursday, Goldman Sachs said they recommend a short EUR/CHF trade, targeting 0.955 on a tactical horizon, with a stop at 0.985.

One euro was worth 0.9668 Swiss francs on Thursday.

 

 

Goldman recommends traders short the euro versus Swiss franc after ECB rate hike
 

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Comments (1)
Harry Baker
Harry Baker Sep 08, 2022 15:25
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What nonsense! I think this must be a typo error
 
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