Pressures are likely to remain more CHF negative - Westpac

Research Team at Westpac, suggests that despite some marginally improved data releases, deflationary pressures persist in Switzerland and the potential for yet further NIRP is still on the SNB’s agenda.

Key Quotes

“Though a lot could change before the SNB’s 15th December meeting, pressures are likely to remain more CHF negative.

Technical: USD/CHF continues to test the centre (0.9885) centre of its 12 month range. The style of the move to 0.9885-0.9910 is not dynamic, but further CHF weakness seems likely and would flip USD/CHF into the upper half its range with risk of moving towards 102.00.”