The Swiss franc steadied near 0.91 per USD, holding the sharp losses from the first quarter that took the currency to a six-month low amid stark differences in expected monetary policy paths between the US and Switzerland. Annual Swiss inflation fell to an over-two-year low of 1% in March to underscore the SNB’s rhetoric that underlying inflation has moderated. Along with pessimistic business confidence and a contraction in retail sales, the result supported market bets that the SNB may deliver another rate hike in its upcoming June meeting. The franc had already depreciated sharply after the SNB unexpectedly delivered a rate cut in March, the first major central bank to do so in the current global inflation cycle. The lower inflation outlook also allowed the central bank to relax its support for the franc, with foreign currency reserves increasing for a third month in February since touching seven-year lows in November.
The USDCHF decreased 0.0005 or 0.05% to 0.9123 on Friday April 26 from 0.9127 in the previous trading session. 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 April 26 of 2024.
The USDCHF decreased 0.0005 or 0.05% to 0.9123 on Friday April 26 from 0.9127 in the previous trading session. The Swiss Franc is expected to trade at 0.91 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.