EUR/CHF Surges on SNB Whisper—But Looming EU-US Trade Storm Could Crush Your Gains!
With recent data pointing to possible intervention by the Swiss National Bank (SNB), the pair has recovered to trade above 0.9330 at the time of writing.
Swiss Franc under pressure as SNB deposits spike, lifting EUR/CHF off key support
According to a Reuters report on Monday, commercial banks lodged CHF 11.2 billion more in overnight balances with the SNB last week. This lifted total sight deposits to CHF 475.3 billion, their highest level since April 2024.
Traders often see a jump in deposits as a sign the central bank is either easing policy or stepping in to prevent further currency appreciation. However, the report also indicated that the SNB declined to comment on the allegations.
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