You're missing at least one additional point :) - The Swiss firms importing products will save money on imports, enabling them to either lower the prices of th

You're missing at least one additional point :) - The Swiss firms importing products will save money on imports, enabling them to either lower the prices of their products, increasing company profits (which increases investor profits), or both That's the inverse or your "The Swiss firms exporting ..." point. With every price move, including prices moves in the foreign exchange market, there is a winner and a loser. The seller of the good with the increased price (in this case CHF) realizes a gain, and the seller of the good that decreased in price (EUR) takes the loss. Swiss companies sell CHF, which just means they buy goods (concrete, steel, wheat, land, labor, etc.) with CHF. Euro-area companies sell EUR, which means they buy goods with EUR.