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- USD/CHF falls as the Swiss Franc strengthens on rising geopolitical tensions.
- Trump warned Tehran against force on protesters, while Iran cautioned against any US or Israeli intervention.
- The US Dollar declines as traders adopt caution after federal prosecutors open a criminal investigation into Fed Chair Powell.
USD/CHF breaks its four-day winning streak, trading around 0.7990 during the Asian hours on Monday. The pair loses as the Swiss Franc (CHF) receives support from safe-haven demand amid increased geopolitical tensions. US President Donald Trump warned Tehran against using force on demonstrators and signaled possible action if the crackdown intensifies, while Iranian officials cautioned against any US or Israeli intervention.
Meanwhile, European countries led by the UK and Germany are considering increasing their military presence in Greenland to bolster Arctic security. Germany may propose a joint NATO mission, while UK Prime Minister Keir Starmer has urged allies to step up efforts in the High North, amid renewed comments by US President Donald Trump advocating US ownership of Greenland.
The CHF could further advance as investors assessed the Swiss National Bank (SNB) policy outlook. Swiss inflation rose to 0.1% year-over-year (YoY) in December 2025, marking the first increase since July but remaining near the lower end of the central bank’s 0–2% target range. This has reinforced expectations that the SNB will likely keep rates at 0% in the coming meetings, with inflation seen gradually rising alongside the economic recovery.
The USD/CHF pair depreciates as the US Dollar (USD) weakens, potentially amid concerns surrounding the Federal Reserve. Federal prosecutors have opened a criminal investigation into Fed Chair Jerome Powell regarding the central bank’s renovation of its Washington headquarters and whether Powell lied to Congress about the project’s scope, the New York Times reported on Sunday.
The Greenback declines on reinforced likelihood of further US Federal Rate cuts after the recent jobs report showed job growth fell short of expectations in December. US Nonfarm Payrolls (NFP) rose by 50,000 in December, falling short of November’s 56,000 (revised from 64,000) and came in weaker than the market expectation of 60,000. However, the Unemployment Rate ticked lower to 4.4% in December from 4.6% in November.
