Swiss franc surges on safe-haven demand, SNB faces deflation pressure

The Swiss franc has experienced a significant surge in demand as investors seek safe-haven assets amid global economic uncertainties. This increased demand for the Swiss currency and government bonds has put pressure on the Swiss National Bank (SNB) to intervene in the forex market. The SNB is grappling with the risk of deflation and the possibility of implementing negative interest rates to combat the franc's appreciation. While specific exchange rates were not provided, the strong demand for the franc suggests potential weakness in major currency pairs like EUR/CHF and USD/CHF. Traders will be closely monitoring any actions taken by the SNB and the impact on the Swiss franc's value. A continuation of the franc's strength could prompt further intervention from the central bank and influence other currency pairs.