Around the turn of the year, the US Dollar (USD) tested lower but has since reversed. Economists at Westpac analyze the Euro (EUR), Pound Sterling (GBP) and Swiss Franc (CHF) against the Greenback.

CHF is expected to gain just 3.0% by end-2025

We continue to expect both EUR and GBP to gain against the USD over our forecast horizon, EUR/USD to rise to 1.1400 end-2024 and 1.1700 end-2025 as GBP/USD lifts to 1.2900 end-2024 and 1.3100 end-2025. 

Having already benefited from its safe-haven status, the CHF is expected to gain just 3.0% by end-2025.