"Safe-haven demand and the surge in gold prices are driving the Swiss franc significantly stronger."

The Swiss franc continues to remain strong against the US dollar and the euro. The surge in gold prices and concerns about another possible government shutdown in the United States have supported the safe-haven demand for the Swiss franc. At the same time, speculation about joint US-Japan intervention selling the US dollar against the Japanese yen has put pressure on the dollar. Analyst Chris Turner from ING noted in a report that as the Swiss National Bank deals with the strong Swiss franc pressures, the market may start pricing in a return to negative interest rates for Switzerland.