Experts at Goldman Sachs (NYSE:GS) predicted that the GBPCHF pair will rise towards 1.16 points in the coming period, with the need to place the pair’s stop loss at 1.10 points.
Experts at the U.S. bank pointed out that the most important thing now is the Swiss National Bank’s statement that it intervened in the markets and injected 0.3 billion Swiss francs during the first quarter.
Goldman Sachs economists continued that this intervention by the bank is remarkable and clarifies the policy pursued by the Swiss National Bank, and reveals the bank’s willingness to adjust currency movements compared to its counterparts in the Group of Ten (even after negative interest rates expire, intervention has remained an important tool and is often used by the Swiss National Bank).
Also, Goldman Sachs experts stressed that while Swiss interest rates will remain low, interest rates in United Kingdom (although low), will remain one of the highest in the Group of Ten by the end of the year, which in turn will support the rise of the GF-sterling pair.
GS stock rating buy or sell?
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