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08.04.202609:38:14UTC+00Swiss Franc Rises to Over 2-Week High

The Swiss franc appreciated to around 0.789 per USD, its strongest level in more than two weeks, as expectations of easing tensions in the Middle East—following a two-week US-Iran ceasefire—reduced demand for the US dollar as a safe-haven asset. During this period, Tehran also agreed to guarantee the safe passage of vessels through the Strait of Hormuz, easing concerns over energy-supply disruptions and related inflationary pressures. In March, Swiss inflation accelerated to its fastest pace in a year, driven by higher heating oil costs amid the regional energy supply crunch. The data indicate that the disinflationary impact of a strong franc on import prices and overall inflation is being offset by surging energy costs, thereby reducing pressure on the Swiss National Bank to alter its policy stance.

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