The NZD to CHF exchange rate is currently range-bound, with modest fluctuations observed in recent weeks.
Interest rate differentials are a key driver; the Reserve Bank of New Zealand (RBNZ) is expected to cut rates, which could weaken the NZD against the stronger Swiss franc, supported by the Swiss National Bank's (SNB) recent policy moves. Additionally, lower inflation in Switzerland, falling unexpectedly to 0.1%, may alleviate some pressure on the Swiss monetary policy and keep the CHF resilient. Economic uncertainty for both countries, notably stemming from Swiss tariffs on exports and impacts on trade, adds to overall market caution.
Expect the NZD/CHF to trade within its recent range, given current stability. Upside risks could come from an unexpected recovery in New Zealand's trade figures, while downside risks may emerge if further rate cuts are confirmed by the RBNZ or if global economic tensions continue to weigh heavily on risk sentiment.