The SNB admits that the over valuation of the Swiss franc has been reduced. At the end of 2017, the exchange rate stood at almost CHF 1.17 per euro. The Swiss franc also declined in value against the US dollar, the British pound Sterling and the Japanese yen. This development is probably largely attributable to increased confidence in the worldwide economic situation, which according to SECO has reduced the Swiss franc’s attractiveness as a safe haven.
Following a period of upward revaluation in the middle of the year, the euro stabilised in the third quarter of 2017. For a long period, the strong euro was faced with a weakening US dollar. However, since October the US dollar has again gained ground slightly; its value however remained somewhat below the long-year average.