UK markets open in 7 hours 12 minutes
  • NIKKEI 225

    25,937.21
    -484.89 (-1.84%)
     
  • HANG SENG

    17,222.83
    +56.93 (+0.33%)
     
  • CRUDE OIL

    82.12
    +2.63 (+3.31%)
     
  • GOLD FUTURES

    1,672.30
    +0.30 (+0.02%)
     
  • DOW

    28,725.51
    -500.09 (-1.71%)
     
  • BTC-GBP

    17,074.61
    -328.73 (-1.89%)
     
  • CMC Crypto 200

    443.49
    +0.06 (+0.01%)
     
  • ^IXIC

    10,575.62
    -161.88 (-1.51%)
     
  • ^FTAS

    3,763.48
    +18.37 (+0.49%)
     

Goldman recommends traders short the euro versus Swiss franc after ECB rate hike

A projection shows a 100 franc banknote in a window in Zurich

LONDON (Reuters) - Goldman Sachs recommends investors short the euro against the Swiss franc following the European Central Bank's record rate increase as they think it likely the Swiss National Bank will want to take action to arrest the franc's depreciation.

In a note published on Thursday, Goldman Sachs said they recommend a short EUR/CHF trade, targeting 0.955 on a tactical horizon, with a stop at 0.985.

One euro was worth 0.9668 Swiss francs on Thursday.

(Reporting by Samuel Indyk, editing by Alun John)