Canada Gross Domestic Product (MoM) registered at 0.2% above expectations (0.1%) in December

The EUR/CHF rate fell quickly toward 1.08 on Monday afternoon. The was no immediate trigger for the move; rather, it was an accumulation of factors that promoted CHF strength that came into effect, according to the UBS analyst team. UBS team expects EUR/CHF to undershoot their three-month forecast of 1.08 over the coming weeks – at least until the ECB meets on March 10.