Swiss Franc at 2-Week Low

2026-04-24 09:42 By Luisa Carvalho 1 min. read

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.



News Stream
Swiss Franc at 2-Week Low
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.
2026-04-24
Swiss Franc Hovers at 2011-Highs
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.
2026-04-16
Swiss Franc Rises to Over 2-Week High
The Swiss franc strengthened to around 0.789 per USD, the highest in over two weeks, as hopes of easing Middle East tensions following a US-Iran two-week ceasefire reduced demand for the greenback as a safe haven. Tehran also agreed to allow the safe transit of vessels through the Strait of Hormuz during this period, which alleviated concerns about energy-driven inflation. Swiss inflation surged in March to its fastest pace in a year, driven by rising heating oil costs amid the Middle East energy supply crunch. Data suggested that the dampening effect of a strong Swiss franc on import costs and inflation is being counterbalanced by higher energy prices, easing pressure on the Swiss National Bank to adjust policy.
2026-04-08