Nomura recommends adding to Swiss franc short positions CHF positions, as the EURCHF has rallied to its highest level since SNB pegged the franc to the euro.
It added that it was out of a buy recommendation of GBPCAD, and instead turned towards buying the GBPCHF from 1.3539.
Also, it added that the Swiss National Bank is likely to remain on sidelines for some time waiting for the European Central Bank to tighten its monetary policy and continued weakness of the Swiss franc before tightening monetary policy.
