Has the SNB started to interveneThe weekly site deposit data from the Swiss National Bank showed a small uptick but with some perspective, it’s a notable turn.
Bloomberg highlights the bump and what looks like a bid to keep EUR/CHF above 1.10. I don’t think SNB is going to make a strong stand at 1.10 but expect them to cushion any falls in the pair unless there is a big run on risk assets. |
SNB Sight Deposits Increased, 2016-2019 - Click to enlarge |
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