Swiss Franc

The Swiss Franc is under pressure, ranking #7 of eight with a score of -29. Interest rates are the main headwind. At around 0.0%, the Swiss Franc pays far less than higher-yielding peers like the dollar or pound, which makes it less attractive to carry-seeking capital. Markets are relatively calm and risk appetite is healthy, which takes some shine off the Swiss Franc. As a safe-haven currency, it draws less demand when investors are confident enough to chase yield elsewhere. The trend is positive — the score has gained 10 points over recent weeks. On a valuation basis, it looks cheap versus its own one-year range, which may help cushion the downside from here.