Swiss National Bank on the average sight deposits for the week ending 8 December 2017

  • Domestic banks CHF 476.4 bln vs 475.3 bln prior week

Sight deposits are basically the accounts of banks that sit with the SNB and account for a major portion of liquidity within the financial system. An increase in domestic sight deposits, but nothing major as it dropped last week.

USD/CHF is trading near session lows on the day as the dollar is struggling against all major pairs (except sterling) - now at 0.9907. Meanwhile, EUR/CHF still range-bound at 1.1683.