12.01.202611:34:40UTC+00Swiss Franc Firms

The Swiss franc has strengthened to approximately 0.797 per USD, maintaining levels near its highest since 2011. This upward movement is bolstered by its status as a safe-haven currency amidst geopolitical tensions and uncertainties regarding the independence of the US central bank. Notably, President Trump has issued a stern warning to Iran about the use of force against protesters, while Iranian officials have cautioned against possible US or Israeli interventions. Meanwhile, both the UK and Germany are evaluating increasing their military presence in Greenland, with Germany suggesting a collaborative NATO mission in light of Trump's renewed territorial assertions. Furthermore, tensions have erupted between the US administration and the Federal Reserve, following threats from the White House to indict Fed Chair Jerome Powell over his congressional comments on Fed building cost overruns. Powell has described this move as an unprecedented "pretext" for the administration to exert more influence over monetary policy. On the domestic front, the recent inflation report has solidified expectations that the Swiss National Bank (SNB) will likely maintain interest rates at 0% in upcoming meetings, as inflation is anticipated to rise gradually in tandem with the economic recovery.