- Exchange rate reaction hard to predict
- See some risks for Swiss economy due to tariffs
As mentioned earlier here, it's not about tariffs equality or fairness. The reciprocal tariffs formulation is all about addressing the trade deficit. The SNB will have a lot of tinkering to do especially if a stronger Swiss franc is going to stay the course. USD/CHF is down 1.8% to 0.8656 currently and EUR/CHF down 0.4% to 0.9535 on the day.
