EUR/CHF: Franc strength to be more evident against the US Dollar in 2024 – MUFG

The Swiss Franc weakened versus the US Dollar and the Euro in September. Economists at MUFG Bank analyze CHF outlook.

Volatility set to pick up 

With the global growth outlook so fragile and volatility set to pick up, we believe ongoing CHF strength is likely. 

Given our EUR/USD profile, we expect CHF strength to be more evident against the US Dollar in 2024. 

EUR/CHF – Q4 2023 0.9700 Q1 2024 0.9650 Q2 2024 0.9600 Q3 2024 0.9500

USD/CHF – Q4 2023 0.9280 Q1 2024 0.8770 Q2 2024 0.8570 Q3 2024 0.8480