The Swiss franc advanced against the US dollar on [date] after the greenback weakened following a surge in US Treasury buyback operations. The expanded buyback program increased demand for longer-dated bonds and pressured yields, reducing the dollar’s appeal to yield-seeking investors. The move also raised questions about Treasury-market liquidity and encouraged investors to reassess dollar positions. The franc benefited from risk-off flows as a traditional safe-haven currency. The Swiss National Bank has historically intervened to prevent excessive franc strength, although recent data suggests a more hands-off approach that allows market forces to play a larger role. Further franc appreciation could affect Switzerland’s export competitiveness, while a sustained dollar decline could also support other safe-haven currencies such as the yen. Investors are expected to monitor future Treasury buyback announcements, Federal Reserve policy signals, US fiscal policy and global economic conditions because these factors may drive near-term currency volatility and influence portfolio diversification and hedging strategies.