USDCHF Rangebound With Downside Bias

UBS forecasts USDCHF to trade within a 0.76-0.80 range near-term before drifting toward 0.78 by the end of 2026 as the Fed begins cutting rates.

Key Takeaways

• 1.USDCHF is expected to remain in a 0.76-0.80 range in the short term, with a medium-term target of 0.78 by end-2026.
• 2.A fading USD yield advantage and an expected Fed pivot toward rate cuts in 4Q 2026 are the primary drivers for a lower USDCHF bias.
• 3.The Swiss franc's status as a safe-haven asset remains sensitive to geopolitical escalations, specifically the conflict involving Iran.

Table of Contents

• USDCHF trades range bound...
• ...with a downside bias
• Investment considerations:
• Appendix
• Risk information
• Generic investment research – Risk information:

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