The Swiss franc crossed 0.91 per USD, its lowest level since early May after the Federal Reserve signaled it might raise interest rates at a much faster pace than thought and the Swiss National bank reiterated a pledge to use foreign exchange interventions if necessary. The SNB kept its ultra-expensive monetary policy stance in June and raised its near-term forecast for price growth amid higher costs of oil, tourism-related services and goods affected by supply bottlenecks. Also, GDP growth was revised higher to 3.5% for this year and it is likely to return to its pre-crisis level by the middle of the year.
Historically, the Swiss Franc reached an all time high of 4.32 in January of 1971. Swiss Franc - data, forecasts, historical chart - was last updated on June of 2021.
The Swiss Franc is expected to trade at 0.92 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 0.93 in 12 months time.