Part of Middle East Conflict Escalation
Middle East tensions, specifically US-Iran, initially spurred safe-haven demand for the Swiss Franc, prompting the Swiss National Bank to threaten currency interventions. This caused the Franc to weaken, even as Swiss inflation remained low. Concurrently, the Bank of Japan's governor reiterated a hawkish rate-hike stance despite the same geopolitical concerns, though some analysts perceive a potential dovish shift in Japan's monetary policy.
Middle East geopolitical tensions (US-Iran)