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Currencies

CHF financing is back

· MONTEC CAPITAL

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.

DisclaimerThis publication is provided for information only. It constitutes neither investment advice nor an offer or solicitation to buy or sell, and does not take your personal circumstances into account. The information, believed to be reliable, is not guaranteed and may change without notice. MONTEC CAPITAL, its employees or its clients may hold positions in the instruments mentioned. Past performance is not indicative of future results. Seek advice from your own advisers before making any decision. Not intended for U.S. persons.

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