FX.co ★ Swiss Franc Remains Strong Amid Escalating Middle East Tensions

The Swiss franc began March trading at 0.77 per US dollar, hovering near one of its strongest levels on record. It also climbed sharply against the euro, hitting its highest level in more than a decade as investors sought traditional safe-haven assets amid escalating conflict in the Middle East. Over the weekend, the US and Israel launched strikes on Iran, reportedly killing Iran’s Supreme Leader and effectively closing the Strait of Hormuz. In response, Iran conducted missile and drone attacks across several parts of the region, further heightening geopolitical uncertainty. The Swiss National Bank declined to comment on the situation or to signal whether it might intervene in foreign exchange markets to stem the franc’s rapid appreciation. Investors are now focused on a series of key economic indicators due this week, including Switzerland’s February inflation data scheduled for release on Wednesday.