The big event for CHF this week is the SNB meeting on Thursday, Danske Bank's FX analyst Jens Nærvig Pedersen reports.

SNB to cut the interest rate by 25bp cut to 0.25%

"We expect a 25bp cut to 0.25%. This is in line with consensus and markets price in around 20bp for the meeting. We believe it is a close decision amplified by the recent weakening of the CHF and the limited space left for easing." 

"Ultimately, we believe that the very muted inflationary pressure with headline currently around 0.3% y/y will leave the SNB opting for a cut. We continue to be bullish on CHF an expect the recent weakening to prove temporary."