FX.co ★ Swiss Franc at Over 1-Week Low

The Swiss franc depreciated by approximately 1% to about 0.78 against the US dollar, reaching its lowest level in over a week. This decline was driven by the strengthening dollar, fueled by anticipation that President Trump's Federal Reserve nominee, Kevin Warsh, would refrain from aggressive rate cuts due to his historical inclination towards a sturdier dollar. Additionally, decreasing prices of precious metals impacted the currency, as Switzerland is a prominent gold refining nation. Moreover, the franc's attractiveness as a safe haven lessened after President Trump expressed optimism regarding a potential agreement between the US and Iran.