Franc Surge Sets JPMorgan Forecasters at Odds With UBS Peers
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The surge in the Swiss franc that inflicted losses on banks and wiped out some currency traders has divided the biggest foreign-exchange dealers over its future direction against the euro.
The franc will strengthen about 10 percent to 92.50 centimes per euro by March, says JPMorgan Chase & Co., which is among the five largest currency dealers, according to Greenwich Associates. While the New York-based bank estimates the Swiss currency will be stronger than current levels at year-end, UBS Group AG says the franc will weaken as stimulus measures by the European Central Bank start to heal the euro area’s economy.