The Swiss franc is witnessing a notable surge amid global equity challenges and diminishing confidence in the US dollar. Analysts suggest that the Swiss National Bank (SNB) may have to cut rates reluctantly in June, with intervention efforts constrained by looming US trade threats. Despite the current strength of the franc, there are risks for Q2 if market conditions for risk assets worsen. Investors should remain alert to changes in policy and external factors that may impact the franc’s stability moving forward.