FX.co ★ Swiss Franc Weakens to Over 1-Month Low

The Swiss franc weakened toward 0.785 per USD, its lowest level since January 22, amid growing expectations of possible official action to curb the currency’s strength. On Monday, the Swiss National Bank signaled that, given the current international environment, it is increasingly ready to intervene in foreign exchange markets to counter any rapid and excessive appreciation of the franc, fueled by heightened safe-haven demand linked to the Middle East conflict. The franc’s sharp rise against major currencies is putting substantial pressure on Switzerland’s export-oriented economy and could ultimately threaten price stability.