The Swiss Franc traded at 0.91 per USD, after gaining more than 3% in March and remaining close to its highest level since end-February as improved expectations towards global economic recovery led to a dollar selloff. Also, recent data showed domestic factory activity rose to an all-time high in April, signaling a broad-based recovery in Swiss manufacturing that will likely remain in place for the foreseeable future in light of the positive order situation. Meanwhile, further large-scale relaxations on lockdown restrictions are not expected to occur in Switzerland until the end of May. On the monetary policy front, the SNB in March kept its pledge to curb upward pressure on the franc, through direct intervention in the foreign exchange market, while holding its interest rate unchanged in negative territory. Growth projections remain solid for the next two years, while inflation forecasts predict a rebound in consumer prices in the second quarter of 2021.
Historically, the Swiss Franc reached an all time high of 4.32 in January of 1971. Swiss Franc - data, forecasts, historical chart - was last updated on May of 2021.
The Swiss Franc is expected to trade at 0.91 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 0.92 in 12 months time.