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Swiss Franc, Yen Hold Near Multi-Month Highs Amid Virus Concern This content was published on August 4, 2021 - 02:26 August 4, 2021 - 02:26 (Bloomberg) The Swiss franc and the yen scaled multi-month highs as investors piled into havens on fears that the spread of the delta variant could derail global growth. The franc traded at 1.0726 per euro as of 11:02 a.m. in Tokyo after touching 1.0722 on Tuesday, the strongest level since Nov. 9. The yen hovered near a 10-week high of 108.88 reached the previous day. The two haven currencies have outperformed all their major peers over the past one month. The rush for havens is the latest evidence that risk sentiment and growth expectations remain fragile. U.S. 10-year yields have dropped about 60 basis points from their peak in March while traders are boosting wagers for another round of policy easing in China as governments initiate fresh curbs to contain the spread of the delta strain. ....
Swiss Franc and Yen Climb to Multi-Month Highs Amid Haven Bets swissinfo.ch - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swissinfo.ch Daily Mail and Mail on Sunday newspapers.
Swiss Franc's Pummeling From Reflation Trade Eases SNB Headache swissinfo.ch - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swissinfo.ch Daily Mail and Mail on Sunday newspapers.
For nearly half a decade, the pound has been whipsawed by Brexit negotiations – yet news that a trade deal has been reached saw it curb its advance. Sterling was up 0.3% against the dollar to $1.3533 as of 3:43 p.m. in London, having earlier risen as much as 0.9%. Strategists say much of the optimism is already baked in, with the currency up nearly 10% since the end of June while the relative cost of hedging pound weakness over the next year is at its lowest since March. The coronavirus and the country’s grim economic outlook have also muscled in on Brexit’s influence, while investors say the limited scope of the agreement – which won’t apply to financial services and the services sector – limits benefits for U.K. assets. ....