<p>JP Morgan EUR/CHF outlook for the upcoming year:</p><ul><li>Stay short EUR/CHF in cash</li></ul><p>JPM are targeting:</p><ul><li>0.95 in Q1 2023</li><li>0.92 by the end of 2023</li></ul><p>JPM citing:</p><ul><li>CHF’s anti-cyclical properties and the SNB’s bullish policy regime shift for the currency point to further downside for EUR/CHF into 2023</li></ul><ul><li>The CHF remains one of the best proxies of global growth, serving as a reliable hedge against lingering downside risks to the cycle next year</li><li>Real rate differentials and Switzerland’s sustained current account surplus remain bullish CHF tailwinds, particularly vs. EUR. </li><li>Deleveraging flows should also be CHF-supportive. </li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.