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Swiss Franc Hits Parity With Dollar for First Time Since 2019

  • USD/CHF rises as much as 0.6% to 1.0002 before paring gains
  • Dollar emerges as key inflation haven as SNB slow to tighten
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The Swiss franc weakened to briefly reach parity with the greenback for the first time since late 2019, as the dollar’s role as the preferred haven trade grows amid turmoil in global markets.

The dollar-franc pair rose as much as 0.6% to 1.0002 on Thursday. The Swiss currency has weakened more than 8% against its US counterpart in 2022.