Reduction of Swiss FX reserves is underpinning franc

Due to this EUR/CHF has been falling during period stocks rising

Now stocks retreating franc could surge nL1N39X0J7

SNB cannot intervene without boosting reserves it's reducing

Flow of funds out of Switzerland that's seen deposits collapse may cease

Sights deposits down nearly 300 billion francs since September

Rising deposits, falling reserve and risk aversion will support franc

EUR/CHF is on course for 2022's low at 0.9420

A drop to the record low at 0.8500 possible should pair drop under 0.9327