Dutch cooperative bank: Swiss franc weakens, affected by Swiss National Bank intervention and prospect of European Central Bank interest rate hike.

Jane Foley of Rabobank said in a report that the recent pullback of the Swiss Franc reflects the intervention warning issued by the Swiss National Bank and the signal of possible rate hikes from the European Central Bank. After the outbreak of the Iran war, the Swiss Franc initially appreciated sharply as a safe haven currency. Subsequently, the Swiss National Bank increased the potential intervention threat to weaken the Franc. At last month's meeting, the European Central Bank indicated its readiness to address the continuously rising energy prices. Foley said that despite the recent decline of the Franc, with the resurgence of its safe haven role, the Franc may regain its momentum in the coming months. Data from the London Stock Exchange Group shows that the Euro rose 0.1% against the Swiss Franc to 0.9213 Swiss Francs. The currency pair had touched 0.8979 on March 9, the lowest level since 2015.