Bank of America has strategically entered a six-month at-the-money forward (ATMF) call option on EUR/CHF, banking on further CHF depreciation. This move is influenced by the Swiss National Bank's (SNB) unexpected rate cut, the first among G10 central banks in 2024, which has pivoted market sentiment towards a bearish outlook on the CHF. BofA's decision reflects an anticipation of continued subdued FX market volatility and seeks to exploit favorable carry and low volatility conditions.Key Points:New Position: BofA adopts a 6-month ATMF call strategy on EUR/CHF, with a strike reference of 0.96538, indicating confidence in EUR/CHF's upward trajectory.Market Dynamics: The unexpected SNB rate cut
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