The currency reached its highest level against the euro since early July, driven largely by concerns over France’s rising debt and political uncertainty. Analysts expect continued demand for the franc as investors seek stability amid ongoing economic and financial market concerns across the eurozone.

On 22 October, the euro fell below CHF0.92, compared with nearly CHF0.95 at the beginning of the month. The US dollar also weakened to approximately CHF0.82 from CHF0.84.

Switzerland’s central bank has maintained its key interest rate at zero, while analysts at private bank UBP suggest the euro could fall below CHF0.90 in the medium term.

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