The Swiss franc’s safe-haven charms are not going to work

The demand for safe-haven currencies should pick up in the coming sessions. However, considering the strength of both currencies, it appears that the Swiss franc’s safe-haven charms are not going to work. This means that the EURCHF trading pair would most likely return to positive grounds in the sessions. The main factor that will help the pair to climb to its resistance is the expectations for the Swiss National Bank to maintain its famous negative rates. It’s widely expected that the SNB will leave its official interest rates unmoved at -0.75% until the very end of 2020. However, it appears that there is still a chance that the Swiss franc eventually appreciates despite the billions of cash spent by the Swiss National Bank to prevent the currency from climbing. Traders are still forcing the pair towards parity in with the beloved single currency. And the Swiss National Bank fears that it could eventually come to reality.