Swiss Franc Is Best Bet in History of Fed Easing, JPMorgan Says
- JPMorgan lowers its forecast on USD/CHF to 0.95, from 0.98
- Swiss currency is up 2.2% versus the greenback in past month
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Swiss franc bulls have history on their side as speculation grows that the Federal Reserve is about to cut rates.
The franc was the best-performing currency during the past four rate-cutting cycles, according to JPMorgan Chase & Co. It’s already rallying as Treasury yields plummet, evidence the pattern might repeat. JPMorgan believes it will, leading the bank to upgrade its franc forecast on Monday.