The CHF/MYR currency pair settled below recent high of 5.3635, its strongest level since July 10th, as concerns over US-China trade relations and signs of rising risk in regional American banks triggered a rush into safe-haven currencies such as the Swiss Franc.
Zions Bancorp reported this week a substantial loss related to alleged fraud after the recent collapse of Tricolor subprime lender and First Brands auto supplier.
On the trade front, US officials criticized China’s expanded rare-earths export controls, considering them a threat to global supply chains. In turn, China accused the US of causing panic over its rare earth controls and rejected calls to reverse export curbs.
The two nations also imposed reciprocal port fees on each other’s ships.
Meanwhile, the latest data out of Malaysia showed the economy had expanded 5.2% year-on-year in the third quarter of 2025, compared to a 4.4% growth in the previous quarter.
Growth was mostly driven by a faster expansion in manufacturing activity, 4% YoY compared to a 3.7% increase in Q2.
The exotic Forex pair gained 0.89% for the week.
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