The Swiss franc appreciated nearly 1% to around 0.815 per USD, holding close to 2011-highs, as the dollar weakened amid renewed U.S.-China trade tensions, stoking fears of a global recession. Since the April 2 tariff announcement, the franc has surged over 7%, ranking among the top-performing major currencies. Investors have increasingly sought refuge in the franc, drawn by its safe-haven status amid persistent global trade uncertainty and erratic policy signals from President Donald Trump’s administration. Meanwhile, the ongoing strength of the currency and the resulting deflationary pressures have raised expectations that the Swiss National Bank (SNB) may consider reintroducing negative interest rates. The SNB frequently intervenes in currency markets to curb excessive appreciation of the franc, but it now exercises greater caution, mindful of Washington’s disapproval of such actions.
The USDCHF increased 0.0034 or 0.42% to 0.8167 on Thursday April 17 from 0.8133 in the previous trading session. Historically, the USDCHF reached an all time high of 4.32 in January of 1971. Swiss Franc - data, forecasts, historical chart - was last updated on April 17 of 2025.
The USDCHF increased 0.0034 or 0.42% to 0.8167 on Thursday April 17 from 0.8133 in the previous trading session. The Swiss Franc is expected to trade at 0.82 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 0.85 in 12 months time.