The Swiss franc climbed against its major counterparts in the European session on Wednesday amid safe-haven status, as investors weighed threats from elevated inflation and Russian President Vladimir Putin's pledge to continue the war in Ukraine.

Putin said on Tuesday that Russia's military operation in Ukraine will continue until his goals are fulfilled.

The peace talks are 'at a dead end,' Putin said, adding that there are no doubts about accomplishing his objectives in Ukraine.

Markets digested Tuesday's U.S. inflation data that cemented hopes for a 50 basis-point rate hike in May.

In the U.K., consumer inflation accelerated to a 30-year high in March, putting the Bank of England on track to deliver another rate hike next month.

The franc touched 135.42 against the yen, its highest level since January 2015. The franc is seen finding resistance around the 137.00 level.

The franc edged up to 0.9314 against the greenback, from a low of 0.9343 seen at 3 am ET. The franc is likely to challenge resistance around the 0.90 level.

The franc advanced to near a 2-week high of 1.2101 against the pound, off its prior low of 1.2140. Next key resistance for the franc is seen around the 1.19 region.

The franc reached as high as 1.0088 against the euro for the first time since March 8. If the currency rises further, 0.99 is possibly seen as its next upside target level.

Looking ahead, U.S. producer prices for March will be released in the New York session.

At 10 am ET, the Bank of Canada will announce its interest rate decision. The BoC is widely expected to raise interest rate to 1 percent from 0.5 percent.

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