Flash: position by buying USDCHF - Bank of America Merrill Lynch

FXstreet.com (London) - Tomos Rhys Edwards, Bank of America Merrill Lynch Global expect’s the CHF to weaken further, consistent with the overall increase in global risk appetite and recent improvements in the Eurozone periphery.

Moreover, buying USDCHF instead of selling EURUSD provides some protection against a scenario in which the ECB surprises by delivering even more than markets expect to help credit conditions in the periphery countries, because in this case both EURUSD and EURCHF are likely to strengthen.