Political turmoil weakens yen's safe-haven status, Goldman Sachs, Bank of America bet on Swiss franc
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最新报道：According to Coinnet, on September 9 (UTC+8), strategists at Goldman Sachs and Bank of America are favoring the Swiss franc over the Japanese yen, as political uncertainty in Japan is weakening the yen's appeal as a safe-haven asset. "Given the Swiss franc's strong fiscal position and rising risk premiums on the dollar and yen, going long on the Swiss franc against the yen may be the simplest way to express fiscal risk to the yen," Shusuke Yamada, chief strategist for Japan FX and rates at Bank of America, said on Monday. Strategists at Goldman Sachs, including Michael Cahill, share a similar view. He stated, "New political uncertainty in Japan should be positive for the Swiss franc and, to a lesser extent, the euro," with both currencies likely to benefit from US growth concerns and the Federal Reserve's continued rate cuts. Diverging central bank policy paths are also supporting the Swiss franc against the yen. The Bank of Japan's policy normalization is being overshadowed by political uncertainty, while the Swiss National Bank appears to have reached its lower bound on interest rates amid rising inflation.
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