Swiss Franc on Solid Footing

2026-03-04 12:59 By Luisa Carvalho 1 min. read

The Swiss franc traded around 0.78 per USD, close to historic highs, as investors weighed geopolitical tensions against potential SNB intervention and muted inflation data.

The New York Times reported that, a day after recent attacks began, operatives from Iran’s Ministry of Intelligence indirectly contacted the CIA, offering to discuss terms for ending the conflict.

However, officials familiar with the outreach expressed skepticism that either the Trump administration or Iran is immediately prepared for a diplomatic “offramp.” Meanwhile, Swiss National Bank Vice-President Antoine Martin reaffirmed the central bank’s heightened readiness to intervene to curb excessive franc appreciation, citing the complex geopolitical landscape.

Swiss inflation remained at 0.1% in February for the third consecutive month, slightly above forecasts of a 0.1% fall and at the lower bound of the SNB’s 0–2% target, keeping policymakers cautious amid deflation risks.



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Swiss Franc on Solid Footing
The Swiss franc traded around 0.78 per USD, close to historic highs, as investors weighed geopolitical tensions against potential SNB intervention and muted inflation data. The New York Times reported that, a day after recent attacks began, operatives from Iran’s Ministry of Intelligence indirectly contacted the CIA, offering to discuss terms for ending the conflict. However, officials familiar with the outreach expressed skepticism that either the Trump administration or Iran is immediately prepared for a diplomatic “offramp.” Meanwhile, Swiss National Bank Vice-President Antoine Martin reaffirmed the central bank’s heightened readiness to intervene to curb excessive franc appreciation, citing the complex geopolitical landscape. Swiss inflation remained at 0.1% in February for the third consecutive month, slightly above forecasts of a 0.1% fall and at the lower bound of the SNB’s 0–2% target, keeping policymakers cautious amid deflation risks.
2026-03-04
Swiss Franc Weakens to Over 1-Month Low
The Swiss franc depreciated toward 0.787 per USD, reaching the lowest level since January 22, amid a firmer US dollar and due to the prospect of possible interventions to weaken the currency. The Swiss National Bank said on Monday that, in view of the international situation, it is increasingly prepared to intervene in foreign exchange markets to counter rapid and excessive appreciation of the franc, which would compromise price stability in Switzerland. The franc’s remarkable ascent against major currencies has been fueled by safe-haven flows from ongoing geopolitical tensions. A stronger franc helps curb imported inflation but strains Switzerland’s export-driven economy. Swiss inflation held at 0.1% in January, remaining at the lower end of the SNB’s 0–2% target and in line with the bank’s Q1 outlook. Investors now await February CPI data due on March 4, with analysts forecasting a 0.1% decline in the CPI.
2026-03-03
Swiss Franc Remains Strong Amid Escalating Middle East Tensions
The Swiss franc opened March trading at 0.77 per US dollar, hovering near one of its strongest levels on record. It also surged against the euro, reaching its highest level in more than a decade, as investors flocked to traditional safe-haven assets amid escalating conflict in the Middle East. Over the weekend, the US and Israel launched strikes on Iran, resulting in the reported death of Iran’s Supreme Leader and the effective closure of the Strait of Hormuz. In response, Iran carried out missile and drone attacks across several parts of the region, intensifying geopolitical uncertainty. Meanwhile, the Swiss National Bank indicated it was increasingly willing to intervene in currency markets to curb the franc’s rapid appreciation. Investors are also turning their attention to a series of key economic releases scheduled for this week, including Switzerland’s February inflation data due on Wednesday.
2026-03-02