The Swiss franc remained stable at around 0.92 per USD, hovering around 3-week highs, as investors sought the franc’s safety amid the spread of the Omicron variant. On Friday, the Swiss National Bank came under pressure from the US Treasury as Switzerland met two of the three criteria to be labelled as a currency manipulator. The SNB expressed that it has not engaged in any currency manipulation, while November’s sight deposit data shows a weekly increase of only CHF 94 million, an indication that the central bank is not intervening on the franc’s recent appreciation. Meanwhile, the Swiss franc continued to gain against the euro, surpassing six-year highs, amid market uncertainties from pandemic struggles and inflationary pressure in the Euro Area.
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 December of 2021.
The Swiss Franc is expected to trade at 0.93 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 0.94 in 12 months time.