Markets5h ago·40 sources
Swiss Franc Falls After SNB Threatens Interventions
The Swiss franc's advance, driven by its safe-haven status amid US-Iran tensions, may have been capped by potential intervention from the Swiss National Bank (SNB). Credit Agricole suggests that without SNB intervention, the franc would have seen stronger gains. The currency pair EUR/CHF fell to a low of 0.9025 before recovering, with the 0.90 level being a significant psychological barrier. The SNB is closely monitoring the franc's strength, which is at its highest real basis since 2011. While direct intervention is unconfirmed, preserving the 0.90 level in EUR/CHF could signal the SNB's stance, especially given potential US administration sensitivities. The article also notes mixed market reactions to the US-Iran conflict, with less widespread panic than might be expected.