Barclays Capital nominate buying USD/CHF as their 'trade of the week', say it's a macro-technical driven trade.
"We think poor Swiss fundamentals continue to support CHF depreciation from still-overvalued levels. Even if concerns about Greece or China escalate, we think the CHF is likely to underperform higher-quality safe havens such as the USD," Barclays argues.
"Our technical strategist is also bearish CHF and expects further underperformance against the USD and EUR. The rising USDCHF trend of the past eight weeks points higher toward initial targets in the 0.9865/0.9905 area. A move above the latter would encourage our bullish view toward the 1.0130 March recovery high," Barclays projects.