Swiss Feb inflation report now out

  • -0.4% prev
  • yy -0.8% vs -1.1% exp vs -1.3% prev
  • HICP mm +0.2% vs -0.7% prev
  • yy -0.9% vs -1.5%

Firmer oil price and CHF weakness would be my first guess on the reason for decent data.

Welcome news for the SNB but they won't be taking their hand off the tiller anytime soon.

USDCHF 0.9917 and EURCHF 1.0938 both near session lows.