Swiss Franc Reaches Decade High Against Euro Amid Middle East Tensions

The Swiss National Bank has noted that escalating tensions in the Middle East have led to the Swiss franc reaching its highest level against the euro in over a decade. According to RTHK, the central bank expressed increased willingness to intervene in the foreign exchange market. The bank rarely comments publicly on market operations. Additionally, the Swiss National Bank stated it is prepared to intervene in the foreign exchange market to curb the excessive appreciation of the Swiss franc, highlighting that such a trend could threaten Switzerland's price stability. Earlier, the Swiss franc was hovering around 0.774 against the U.S. dollar, marking a decline of nearly 0.7%.