Swiss Franc Could Soar 17% vs Dollar: Morgan Stanley Predicts Haven Boom – News and Statistics

Feb 23, 2026

According to a report from Bloomberg, Morgan Stanley strategists have stated that the Swiss franc could rise as much as 17% against the dollar due to growing confidence in its status as a haven currency amidst U.S. policy uncertainty. The strategists noted that Switzerland’s low inflation, fiscal soundness, and safety of assets make the franc a safe haven currency comparable to gold.

In a bear case scenario, this could push the franc to a lifetime high of 0.64 against the dollar. The currency was trading around 0.776 on the Monday of the report. The strategists, led by David Adams, described the franc as an overlooked safe haven asset that is poised to appreciate more substantially and quickly than investors currently anticipate, adding that it has the best track record of outperforming during market shocks.

The analysis comes as hedge funds increase their bets on a stronger franc. Leveraged funds currently hold their biggest net-long position in the Swiss currency since June, having recently switched from a net short position. Last month, the franc reached its strongest level against the euro and the dollar in over a decade. Investors are reportedly attracted by Switzerland’s modest debt, stable economy, and predictable policies, which contrast with policy confusion in the United States and rising geopolitical risks.

While a stronger franc raises the possibility of intervention by Switzerland’s central bank to weaken the currency and curb deflationary pressures, a growing number of economists believe the monetary authority appears less willing to do so for now. Morgan Stanley also forecasts the franc to gain 5% against the euro, moving to 0.87 per euro from around 0.91.

Source: IndexBox Market Intelligence Platform

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