Currencies· 2 min read
CHF financing is back
After years of CHF appreciation, a paradigm shift: the SNB has no reason to raise rates before the end of 2027, unlike the other major currencies. The repositioning of carry trade strategies, notably on the yen, should favour the Swiss franc as a funding currency. Currency risk in EUR, USD, JPY and GBP remains unhedged in CHF portfolios.
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