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The Swiss National Bank will have its meeting today, and with Switzerland having fallen back into deflation, markets are pricing in a 30% chance for a small rate cut. 
That said, the SNB already boasts the lowest rates worldwide, so it is unlikely to cut any deeper as running out of policy ammunition would risk generating a negative expectations loop. Instead, it will probably stick to huge FX interventions.
The CHF may tick higher if the SNB does not indicate any interest in rate cuts or even a thought to it, but any rally might not be sustained for long.
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#MakingSenseofHeadlines #MacroEconomics #TrackRecordDaily #ForexTrading #GlobalMacro #SNB
