Key Moments
- USD/CHF trades slightly higher near 0.7925 in the European session on Thursday as the US Dollar remains firm.
- The US Dollar Index is near Wednesday’s peak around 99.70 amid uncertainty over a US-Iran ceasefire.
- The Swiss National Bank signals it is ready to intervene in forex markets to curb rapid Swiss Franc gains.
USD/CHF Rises on Strong Dollar and Geopolitical Tension
USD/CHF is moving higher toward 0.7925 during European trading on Thursday. The firm US Dollar is underpinned by market skepticism over a quick ceasefire between the US and Iran, after Tehran outlined its conditions.
Meanwhile, the US Dollar Index (DXY), which tracks the Greenback against six major currencies, remains close to Wednesday’s high near 99.70. This shows continued demand for the US currency.
Tehran’s Demands Add to Market Uncertainty
Reports indicate that Tehran seeks a revised Strait of Hormuz framework to collect transit fees. It also wants assurances that the war will not resume, an end to Israeli strikes on Hezbollah, and no external interference in its missile program. A US official called these demands “ridiculous and unrealistic.”
Earlier, US President Donald Trump proposed a month-long ceasefire and a 15-point plan via Pakistan. Iran rejected it, with a senior official calling it “extremely maximalist and unreasonable.”
This uncertainty about the Middle East conflict continues to support safe-haven demand, including for the US Dollar.
Swiss Franc Steady as SNB Ready to Intervene
The Swiss Franc is largely flat against major currencies. At the same time, the Swiss National Bank (SNB) reiterated its readiness to act in forex markets to counter excessive appreciation.
SNB Chairman Martin Schlegel said, “We have increased our readiness to intervene in forex markets to dampen rapid Swiss Franc appreciation.”
Market Snapshot
| Instrument / Indicator | Latest Context |
|---|---|
| USD/CHF | Edges up toward 0.7925 during European session |
| US Dollar Index (DXY) | Trades firmly near Wednesday’s high around 99.70 |
| Swiss Franc (CHF) | Trading almost flat against major peers |
Related Developments
- US: War shock keeps prices elevated – Rabobank
- Trump seeks deal with Iran, but chances remain low
- DXY holds near 99.50 as US-Iran talks remain uncertain
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