Swiss Franc Falls As SNB Sight Deposits Rise
March 02 2015 - 4:45AM
RTTF2
The Swiss franc lost ground against the other major currencies
on Monday's European deals, as the Swiss National Bank's sight
deposits improved last week, indicating the possibility of the
Swiss National Bank intervention to depreciate the currency.
Data from SNB showed that sight deposits of domestic banks at
the central bank surged up to 383.66 billion francs in the week
ended February 27, from 365.49 billion francs recorded last
week.
The franc fell to 4-day lows of 1.4736 against the pound and
1.0713 against the euro, off early highs of 1.4681 and 1.0649,
respectively.
The franc hit 0.9571 against the greenback, a level unseen since
January 15.
The franc eased back to 125.22 against the yen, from an early
high of 125.63.
The franc is likely to find support around 0.97 against the
greenback, 122.00 against the yen, 1.50 against the pound and 1.2
against the euro.
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