The Swiss franc is experiencing a rapid appreciation amidst growing uncertainties surrounding U.S. political policies. This strengthening, driven by its status as a safe-haven currency, has raised concerns within the Swiss industrial sector, which fears the rising currency could further complicate an already challenging trade environment characterized by tariff threats. With the franc surging approximately 9% against the dollar this month, it is on track for its largest monthly increase since the 2008 financial crisis.

In 2024, the Swiss National Bank $SNBN.SW reported a record annual profit of 80.7 billion Swiss francs (approximately 89.5 billion USD), marking a historic achievement facilitated by rising stock markets, a strengthening US dollar, and increased gold prices. This impressive result exceeded forecasts and restored the bank's fiscal performance after experiencing losses in 2023.