Bearbull Investment Insight – Flash note – Switzerland 3/3

The Swiss franc is poised for a new phase of weakness, particularly against the euro. Despite its traditional role as a safe-haven currency, the SNB’s accommodative monetary policy is a powerful counterbalance. The franc has already met our target of 0.92 against the US dollar, but the more significant movement is expected against the euro. We anticipate the euro will appreciate by around +5% against the franc, potentially reaching parity later this year, breaking the long-standing consolidation around 0.94.