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Swiss franc falls to a more than two-week low versus the dollar

USD/CHF rose about 0.5% to around 0.8126, even though the U.S. dollar index edged higher and traders weighed upcoming CPI data and Fed Chair Kevin Warsh testimony.

Reported · Written up by our desk · Major Pairs

FXStreet reports the Swiss franc weakened versus the U.S. dollar on Monday, with USD/CHF trading near 0.8126, up about 0.5% on the day and at the highest level since June 25.

The move came as renewed Middle East hostilities lifted oil prices and revived inflation concerns, while traders also stayed cautious about pushing the dollar higher before U.S. Consumer Price Index data due Tuesday and Fed Chair Kevin Warsh’s congressional testimony.

Despite heightened geopolitical uncertainty, FXStreet says the franc did not draw sustained safe haven demand. It noted the currency has depreciated by more than 5% against the U.S. dollar since the U.S.-Iran war began in late February.

FXStreet also pointed to pressure from the Swiss National Bank, including a higher willingness to intervene to curb excessive franc appreciation. It cited Swiss foreign exchange transaction data showing the SNB bought CHF 3.94 billion of foreign currency in the first quarter of 2026.

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