Business · Markets · 8 hrs ago
Swiss franc edges higher as oil prices revive inflation concerns
The Swiss franc edged higher on Friday, while the euro weakened slightly against it and the US dollar.
The euro was under pressure after Brent crude rose above $110 a barrel, its first time above that level since May.
The jump followed a bill introduced by US lawmakers to block President Donald Trump’s plan to bring more Russian diesel onto world markets.
Many lawmakers oppose steps that could help Russia earn money from fuel sales to fund its war against Ukraine.
If less Russian diesel reaches the market, refiners elsewhere could produce more fuel and increase demand for crude, potentially pushing oil prices higher.
Higher oil costs can feed into prices for goods and services and raise inflation concerns, while US bond yields have already risen as markets reflect those worries.
If inflation pressures grow, central banks may respond by raising interest rates.
The Swiss franc edged higher in US trading on Friday as rising oil prices revived inflation concerns.
The euro fell to 0.9258 francs in the evening, below its late-afternoon level.
Brent crude for December delivery rose above $110 a barrel for the first time since May.
The oil-price rise followed a US lawmakers’ bill aimed at blocking President Donald Trump’s plan to bring more Russian diesel to global markets.
Investors feared that higher oil prices could feed into consumer prices and prompt central banks to raise interest rates.
- Who
- The Swiss franc, euro and US dollar were involved in the currency moves.
- What
- The franc edged higher as oil-price increases revived inflation concerns and weighed on the euro.
- When
- Friday, 16 October 2026; the report describes US trading and evening rates.
- Where
- In US trading; the article does not state a more specific location.
- Why
- Higher oil prices raised concerns about inflation. A bill from US lawmakers to block a plan to bring more Russian diesel to global markets could reduce supply and increase demand for crude.
This story does not have two clearly opposing sides.
A group of US lawmakers introduced a bill aimed at preventing Donald Trump’s plan to bring more Russian diesel to global markets.
Brent crude for December delivery rose above $110 a barrel for the first time since May.
The euro traded at 0.9258 francs, while the dollar traded at 0.8241 francs.
- Euro/Swiss franc rate
- 0.9258 francs in the evening
- Dollar/Swiss franc rate
- 0.8241
- Brent crude price
- Above $110 a barrel for December delivery, its first time above that level since May
- US lawmakers’ bill
- Aimed at preventing Donald Trump’s plan to bring more Russian diesel to global markets