Forex Flash: EUR/CHF looks broadly neutral – UBS

Despite the EUR/CHF´s broad downside trend amid the ongoing euro zone debt crisis, Beat Siegenthaler of UBS expects calm summer months ahead: “Positioning in the euro does not look extreme even though the UBS flows show sizeable selling over the last few weeks. On EURCHF, positioning looks broadly neutral, disappointing any hopes that shorts could get stretched and trigger a sustained correction.”