The Swiss franc traded around 0.79 per USD, hovering near two-week lows, as persistent US-Iran conflict uncertainty has prompted investors to favor the greenback as a refuge asset. The initial boost from a ceasefire extension proved short-lived amid stalled negotiations and ongoing tensions in the Strait of Hormuz, keeping risks elevated. Meanwhile, Swiss National Bank Chairman Martin Schlegel said at the SNB's General Meeting that the central bank is open to policy adjustments and FX market intervention, reaffirming its inclination to buy foreign currencies to weaken the franc. He added that Switzerland faces a more uncertain outlook, with subdued short-term growth and rising inflation ahead due to higher energy costs. Swiss inflation has recently been sitting at the lower end of the SNB’s 0–2% target range, which is viewed as price stability.