Markets are expecting a slight change to 0.13% in the top end of the current 0.0-0.25% target range but no negative rates expected as the SNB have made it clear that they are between a rock and a hard place.
Nor is it necessary to raise the 1.2000 EURCHF cap given the strong showing by the euro since the ECB meeting
Interest rate decision at the bottom of the hour followed by presser at 09.00 (UK) with chairman Thomas Jordan which can be viewed here
Orderboard ahead of the event:
USDCHF currently 0.8940 having finally broken down through 0.8960
Sellers 0.8960-65 0.8985 0.9000-10 0.9025 0.9035-45 0.9080 0.9100
Buyers 0.8930 0.8900-05 0.8885 0.8865 0.8850
EURCHF currently 1.2180 still drifting
Sellers 1.2200 1.2225 1.2235-40 1.2250
Buyers1.2165 1.2150-40 1.2100 1.2085 1.2050
