Latest data released by the SNB - 24 December 2018
- Domestic sight deposits CHF 474.5 bn vs CHF 471.6 bn
Once again, there was very minimal changes to the sight deposits as the SNB continues to stand aside with EUR/CHF sitting in the comfort zone range of 1.12 to 1.14 over the past few months. Unless the price range threatens to break to the downside, the SNB is unlikely to step in considering that we're still miles away before any policy normalisation comes about.
And with the threat of Italy's budget risk subsiding for the time being, that should help limit fundamental downside for EUR/CHF in the near-term.
