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Hardy: Looking for the Swissie slide to continue in December

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The Swiss franc has taken a bit of a tumble this Friday and is weaker against not just the US dollar but also the euro. That's despite expectations that the European Central Bank is likely to extend its easing programme. Saxo's John Hardy wonders what's behind the move and believes that the Swiss franc will weaken further.

Hardy says watch out for the key event risks, including that ECB meeting which will affect EURCHF. Also look carefully at Janet Yellen's speech on Wednesday and the nonfarm payroll figures on Friday, both of which will impact USDCHF, he says. The Swiss National Bank meeting the following week is also one to watch, says John, as it tries to counter any ECB moves.

You could almost be forgiven for thinking that John knew something was on the cards because earlier this Friday he suggested a strategic USDCHF long for 2016. You can read his#SaxoStrat here, but in this video he explains how he would trade the Swiss franc in the medium and longer term.