EUR/CHF demand may temper EUR/USD bearishness - OCBC

FXStreet (Bali) - Emmanuel Ng, FX Strategist at OCBC Bank, notes that near term background support for the EUR-CHF may serve to temper EUR-USD bearishness in the short term.

Key Quotes

"Near term background support for the EUR-CHF may serve to temper EUR-USD bearishness in the short term with no let up on dovish rhetoric from ECB council members this week."

"Expect some consolidation around current levels pending German CPI readings later today while the balance of risks for the pair may remain tilted to the downside."