CHF: Intervention risk tempers haven appeal – MUFG

AI Briefing

• – MUFG Bank analysts note the Swiss Franc has underperformed other G10 currencies since the Middle East conflict began, as the Swiss National Bank has strongly signalled a willingness to counter excessive CHF strength.
• – The Swiss Franc has been weakening against other major currencies due to the SNB's commitment to maintaining a stable currency.
• – This suggests the CHF is at risk of intervention to prevent appreciation.