EUR/CHF and USD/CHF price forecast for 2026, as per UBS - Investing.com

What the desk is arguing

The analysis indicates that the CHF will likely depreciate against both the EUR and USD by late 2026. The projected levels imply a consensus for EUR/CHF to approach 0.7950 by March 2026, eventually reaching 0.7600 by December 2026, while USD/CHF follows a similar downward path.

Supporting this outlook are the consistent adjustments from various banks, which reflect a growing consensus that tighter monetary policies elsewhere will weaken the Swiss Franc. The recommendations illustrate a marked confidence in the market's trajectory, dismissing more bullish scenarios on the currency's strength.

Where it sits in our coverage

According to our consensus target, the EUR/CHF is expected to decline to 0.7950 in March 2026, with a firm range from 0.7900 to 0.8100. This consensus aligns closely with UBS's estimates and suggests that market expectations are cohering around a consistent worldview regarding Swiss monetary policy.

Specific projections include: - JPMorgan: Dec26 target of 0.8000 - Goldman: Dec26 target of 0.7600 - Barclays: Dec26 target of 0.7800

How other firms see it

The consensus view is reinforced by the positions of major banks, with Goldman and MorganStanley also forecasting similar declines for the CHF. - Goldman: Projects 0.7600 by Dec26 - MorganStanley: Projects 0.7500 by Dec26

Conversely, a few firms, such as BofA, maintain a slightly more optimistic outlook with their projections aimed at 0.7600 by Dec26, indicating a potential divergence in sentiment within the forecasts.