USD/CHF to hit 0.96 by year-end and 0.92 by June-2023 – UBS

USD/CHF has hit the 0.99 level. Nonetheless, economists at UBS expect the pair to ease back lower towards 0.96 by the end of the year.

Swiss National Bank to remain on a tightening path 

“While Swiss inflation moderated both on a YoY and MoM basis in September, we believe the SNB remains on a tightening path and wants a stronger CHF to continue to fight inflation.” 

“Any rally toward USD/CHF 0.99 or higher is a good opportunity to sell the greenback in favor of the franc, in our view, forecasting the pair to hit 0.96 by year-end and 0.92 by June next year.”