Swiss FrancQuote - Chart - Historical Data - News

The Swiss franc traded around 0.78 per USD, near record highs, as investors evaluated the Swiss National Bank’s policy outlook following the latest inflation data. Ongoing safe-haven flows also lent support. Swiss inflation rose to 0.6% in April, its highest level in 16 months, driven by rising energy costs linked to the war in the Middle East. The increase marked a second consecutive acceleration and pushed the headline inflation rate above the 0.5% average projected by the SNB for this year and 2027 at its last policy meeting in March. Although the central bank expects the spike in costs to be temporary, with minimal change to medium-term price pressures, this offers breathing space for policymakers, who were previously confronting subdued inflation before the Iran war, driven by the strength of the franc. SNB Chairman Martin Schlegel said last month that higher energy prices should lift inflation further in coming quarters, while growth is likely to remain subdued in the near term.

The Swiss franc traded around 0.79 per USD, hovering near two-week lows, as persistent US-Iran conflict uncertainty has prompted investors to favor the greenback as a refuge asset. The initial boost from a ceasefire extension proved short-lived amid stalled negotiations and ongoing tensions in the Strait of Hormuz, keeping risks elevated. Meanwhile, Swiss National Bank Chairman Martin Schlegel said at the SNB's General Meeting that the central bank is open to policy adjustments and FX market intervention, reaffirming its inclination to buy foreign currencies to weaken the franc. He added that Switzerland faces a more uncertain outlook, with subdued short-term growth and rising inflation ahead due to higher energy costs. Swiss inflation has recently been sitting at the lower end of the SNB’s 0–2% target range, which is viewed as price stability.

The Swiss franc hovered around 0.78 per USD, near its highest since July 2011, as optimism over a permanent truce between the US and Iran has diminished safe-haven demand for the greenback. Easing geopolitical concerns reduced fears of a prolonged energy and inflationary shock, while also dampening expectations of a more hawkish stance by major central banks. Meanwhile, the SNB minutes from the latest March meeting pointed to increasing uncertainty over Switzerland’s economic outlook, with global developments, particularly the Middle East conflict, seen as key inflation risks. Policymakers noted that, given heightened geopolitical tensions and safe-haven flows, the SNB is likely to remain highly willing to intervene in FX markets to curb a rapid and excessive appreciation of the franc that could undermine price stability in Switzerland.