This week, the Swiss franc rose to beyond parity with the euro as traders sought safe haven assets as concerns about risks to global growth grew. © Cameracraft8 | Dreamstime.comThe Euro-Swiss Franc pair fell below 1.00 franc per euro during the morning of 29 June 2022 and remained below 1.00 until the morning of 1 July 2022 when the value of a euro exceed that of a franc. With Swiss inflation at 2.9% (May 2022) the SNB decided to hike rates by 50 basis points and has signalled that it may go further if necessary. The SNB rate rise was the first in 15 years, while the planned July ECB hike will be the first in 11 Years. The Swiss franc also strengthened against the US dollar during June 2022.

Source: Le News July 01, 2022 23:28 UTC