FXStreet (Edinburgh) - Christin Tuxen, Senior Analyst at Danske Bank, sees the cross could come under pressure in case of further ECB easing. Key Quotes “EUR/CHF has settled in the 1.08-1.10 range following the post-Greece relief rally”. “Notably, CHF has remained relatively untouched by its usual safe-haven status amid Chinese and Fed fears”. “The weaker level of Swissie will be welcomed by an SNB that is (still) on track for a severe miss of its inflation target”. “Indeed, the SNB needs all the help it can get from the currency as the central bank has largely run out of instruments: policy rates (at -0.75%) are already close to being de facto lower bound, and the SNB does not want its balance sheet to grow much further”. “Markets are currently pricing in a gradual normalisation of SNB rates, which we think is fair. We have left our EUR/CHF forecasts unchanged, and while we do not look for aggressive ECB easing, an extension of QE could add some pressure on to EUR/CHF and the SNB too”. For more information, read our latest forex news.