Markets Dollar weakness drives franc further upwards
The dollar continued its slide on Tuesday afternoon. This has driven the Swiss franc, which is in demand as a safe haven, further upwards. The euro also climbed to a multi-year high against the US dollar.
27.01.2026, 17:12
SDA
In the afternoon, the US dollar was quoted at 0.7670 francs. Shortly before this, the US currency reached its lowest value of 0.7600, excluding the exchange rate turbulence surrounding the lifting of the minimum euro exchange rate on January 15, 2015.
The euro also rose noticeably against the US dollar by late afternoon and is currently trading at a level of 1.1963 US dollars. Around midday, the single European currency was still trading at 1.1882 US dollars.
The decline of the "greenback" was recently accelerated by new economic data from the USA: According to these, American consumer confidence has fallen to its lowest level since 2014. Private consumption is of great importance to the US economy.
The euro has also clearly lost ground against the franc and - leaving aside the turbulence of 2015 - has now also reached a new low of CHF 0.9165.
No SNB intervention expected
Nevertheless, no interventions by the Swiss National Bank (SNB) can be seen so far, according to a commentary by Bank Valiant. This is in line with the signals that it is less concerned about the absolute exchange rate level than about strong fluctuations. "However, the current pressure is coming more from the dollar, where volatility is higher and could quickly ease - including for the euro."
This week, the markets are focusing on the US Federal Reserve, which begins its two-day monetary policy meeting today. Observers are not expecting any further interest rate cuts. Nevertheless, the meeting could provide impetus, as the first indications or even an announcement regarding the future Fed chair could be made.
