Swiss National Bank sight deposit data now out 20 Feb

  • domestic deposits w-e 17 Feb CHF 468bln vs 464.5bln prev

Rises in both deposit levels suggesting some SNB smoothing last week. Looking at the price action on USDCHF and EURCHF we can't rule out some underpinning as CHF safe-haven demand returned.

Currently 1.0030 and 1.0655 both off Asia lows