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Amundi SA, Europe's largest asset manager, has become bullish on the Swiss franc, believing that the currency will benefit from increased geopolitical tensions. The firm is now slightly overweight on the franc, a shift from its previous underweight position earlier this year. Amundi's head of global FX, Andreas Koenig, stated that the franc could rise to as strong as 0.93 per euro by the end of the year, and will likely fluctuate between that level and 0.96 through December. However, the Swiss National Bank's easing measures and potential intervention to restrain further gains may complicate the franc's potential gains. [Extracted from the article]

Options traders are skeptical about the euro's recent rebound against the pound and the Swiss franc, indicating lingering pessimism about the currency's future. One-month risk reversals, which measure market sentiment, show demand for bearish euro structures reached its highest level since 2022 against the dollar and the franc, and since 2019 against the pound. While bearish sentiment has eased slightly, traders are still willing to pay a premium to hedge against a weaker euro in the next month, reflecting caution ahead of the second-round vote on July 7. The initial market rally following Marine Le Pen's National Rally winning the first round of France's legislative elections has faded, with investors now focusing on mainstream parties' strategies to prevent her group from gaining power. [Extracted from the article]

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According to data from the Commodity Futures Trading Commission (CFTC), non-commercial traders, including hedge funds and asset managers, have increased their bearish bets on the US dollar. This comes after the Federal Reserve signaled the end of its monetary tightening campaign, leading to a slump in the value of the dollar. The Bloomberg Dollar Spot Index has fallen to its lowest level since July, and the dollar is on track for its worst annual performance since 2020. The Swiss franc, euro, and Norwegian krone have all strengthened against the dollar, while demand for options that benefit from a weaker dollar has increased. [Extracted from the article]

The dollar has weakened ahead of US inflation data, leading to the Swiss franc reaching its highest level against the US currency since 2015. The euro and Norwegian krone have also risen to their highest levels since August. There is growing speculation that US interest rates may fall in the coming months, which has contributed to the dollar's decline. Traders are increasingly convinced that the Federal Reserve will cut interest rates next year, and Friday's PCE data is expected to confirm this narrative. The Swiss franc has been performing well against other currencies this year, supported by the belief that Switzerland's central bank prefers a stronger domestic currency. [Extracted from the article]

The Swiss National Bank (SNB) has decided to keep borrowing costs unchanged and remove a reference to possible further rate hikes after inflation fell below its target. The SNB's key interest rate will remain at 1.75% for the second consecutive meeting. With weak growth, low inflation, and the Swiss franc at an eight-year high against the euro, the central bank is in a holding pattern and not rushing to cut rates like other central banks. Analysts predict that the SNB may consider a rate cut in December 2024. [Extracted from the article]

The Swiss franc has reached its highest level against the euro in eight years, as traders anticipate that the European Central Bank (ECB) will cut interest rates before the Swiss National Bank (SNB). This shift in interest-rate expectations reflects growing investor confidence in the ECB's actions, despite attempts by the central bank to delay rate cuts. The strength of the Swiss franc is often linked to pressure on the euro zone, and some experts predict that the euro-franc pair could fall further. However, overall currency forecasts suggest that the Swiss franc will weaken in the coming year. [Extracted from the article]

The Swiss franc has reached its highest level against the euro since 2015, when the Swiss National Bank (SNB) removed its currency cap. This increase in value is due to a change in interest-rate expectations, with investors believing that the European Central Bank (ECB) will cut rates sooner than the SNB. The ECB may begin easing policy as early as the first quarter of next year, while the SNB is expected to cut rates in June. This development reflects a shift in global financial markets and could have implications for central banks worldwide. [Extracted from the article]

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The yen's recent rebound from a 33-year low against the dollar has drawn attention to the increased pressure it faces from other major currencies. It reached a 15-year low against the euro, a record low against the Swiss franc, and experienced a drop against all other Group-of-10 currencies. Bloomberg's measure of the yen's relative strength against its G-10 peers is at its lowest level since 2007. The yen's rally against the dollar on Tuesday, driven by US inflation data suggesting the Federal Reserve may not need to raise interest rates further, did not reflect any change in Japan's economic conditions. The yen remains the most bearish major currency due to better economic conditions in Europe and the US compared to Japan, where there have been no rate hikes. The yield gap between Japan and European nations is expected to remain wide, as the European Central Bank is unlikely to cut rates until late next year. The recent data showing a contraction in Japan's GDP in the third quarter adds to the pressure on the yen. Germany's economy is projected to surpass Japan's as the world's third-largest, aided by the yen's decline against the dollar and the euro. The soft GDP print in Japan suggests that the Bank of Japan may need to maintain negative rates for longer than expected, which is bearish for the yen. [Extracted from the article]

Swiss franc market offers size to issuers willing to flex on price [ABSTRACT FROM AUTHOR]

French bank aims for size over price, but lands in line with euro funding sources [ABSTRACT FROM AUTHOR]

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(Bloomberg) -- Wall Street strategists are rejiggering their currency recommendations after the euro rose to its highest against the US dollar since March 2022. George Saravelos, global head of FX research at Deutsche Bank, recommends taking a long euro position against the dollar with a target of 1.15 by year-end, according to a note Wednesday. [Extracted from the article]

"The sharp correction in developed rates after the US CPI miss raises the prospects that the terminal SNB rate may not lag as far behind as initially thought", said Alexandre Dolci, G-10 FX strategist at Credit Agricole. (Bloomberg) -- The Swiss franc jumped to the highest level against the dollar in over eight years after a softer-than-expected US inflation print dragged the greenback. [Extracted from the article]

The outcome proved a disappointment for traders who might have been betting on a hint that the BOJ was planning to shift toward a more hawkish stance, adding downward pressure on the yen. (Bloomberg) -- The slump in the yen spurred by the latest Bank of Japan decision drove the currency to its weakest level since just after the collapse of Lehman Brothers Holdings Inc. in 2008. [Extracted from the article]

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(Bloomberg) -- The euro fell Tuesday for a fourth straight session, in its fastest slide since October, as investors built in expectations for a more hawkish Federal Reserve and pushed the US dollar higher. "It would take a more persistent euro-zone data weakness, dovish European Central Bank and wider peripheral spreads to justify a renewed downtrend in the euro", Marinov said. [Extracted from the article]

It's a turnaround from last year when the franc soared versus a struggling euro, as inflation and recession fears drove investors to one of the world's most popular currency havens. With energy prices falling, China moving to reopen its economy and signs growing that the Federal Reserve may slow its rate hikes, the outlook for the euro-area is improving. [Extracted from the article]

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(Bloomberg) -- The euro's rally against the dollar has stalled over the past month at resistance around its May high. Bulls are hoping Thursday's US inflation data will provide enough ammunition for it to breach that barrier and resume its progress toward $1.10. [Extracted from the article]

The warmer weather gave investors confidence to bet on the euro as ECB officials indicated more rate hikes are needed for inflation to return to the target. (Bloomberg) -- The euro rose to parity versus the Swiss franc for the first time since July as improved risk appetite and hawkish signals from the European Central Bank helped boost demand for the common currency. [Extracted from the article]

Confectionery company returns after disappointing Swiss franc deal [ABSTRACT FROM AUTHOR]

Mixed week for issuer after great result in Swiss franc debut [ABSTRACT FROM AUTHOR]

Funding was cheaper than euros, if smaller [ABSTRACT FROM AUTHOR]

The losses came as money markets trimmed ECB tightening bets after French services PMI was revised lower Tuesday, widening the interest-rate differential with the Federal Reserve. Keywords: %CHF; %EUR; %USD; ALLTOP; BON; BUSINESS; ECB; FRX; GLOBALMACR; GOV; MARKETS; TOP; WWTOP; WWTOPAM; WWTOPAS; WWTOPEU EN %CHF %EUR %USD ALLTOP BON BUSINESS ECB FRX GLOBALMACR GOV MARKETS TOP WWTOP WWTOPAM WWTOPAS WWTOPEU The euro sank to a 20-year low against the US dollar as investors pared bets on European Central Bank interest-rate hikes, adding to bears' conviction the common currency will tumble to reach parity with the greenback by the end of 2022. [Extracted from the article]

The euro has weakened 7.7% versus the greenback this year as central bank policy divergence resurfaces as a driver for global currency markets. (Bloomberg) -- The Swiss franc rose to parity with the euro for the first time since the outbreak of the war in Ukraine, with traders piling into the so-called haven currency as concern about risks to global growth intensified. [Extracted from the article]

Deutsche Bank wrote in a note Thursday that the central bank decision further confirms their bullishness on the franc, and they expect the euro-franc pair to approach parity within the coming days. Keywords: %CHF; %EUR; SNBN@SW; BON; BUSINESS; EUROPE; FRX; GOV; MARKETS; WORLD EN %CHF %EUR SNBN@SW BON BUSINESS EUROPE FRX GOV MARKETS WORLD The Swiss franc surged by more than 2% against the euro after the Swiss National Bank unexpectedly hiked rates by 50 basis points, putting its return to parity back in focus. [Extracted from the article]

"It has a lot to do with the fact that the franc's appreciation is against the euro and not other currencies." The Swiss franc hit parity with the euro on Monday, but data from the country's central bank suggests policy makers may not be too concerned. [Extracted from the article]

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French corporate ends 11 year absence to land 5bp-10bp inside of euros [ABSTRACT FROM AUTHOR]

The dollar index rally pared some gains after U.S. equities eased losses from the open, with the Nasdaq down about 0.1% after dropping as much as 3.5%. (Bloomberg) -- The euro plunged to its lowest against the dollar since June 2020, while a gauge of the greenback rose the most in nearly two years, as Europe's biggest security crisis in decades sends haven demand soaring. [Extracted from the article]

The dollar index rally pared some gains after U.S. equities eased losses from the open, with the Nasdaq down about 0.1% after dropping as much as 3.5%. (Bloomberg) -- The euro plunged to its lowest against the dollar since June 2020, while a gauge of the greenback rose the most in nearly two years, as Europe's biggest security crisis in decades sends haven demand soaring. [Extracted from the article]

The Fed on Wednesday is expected to signal a March hike in interest rates and balance-sheet reduction later this year to help fight inflation. (Bloomberg) -- The Swiss franc rose to the highest level against the euro in more than six years Monday, as concern over a possible military confrontation in Ukraine boosted demand for the haven currency. [Extracted from the article]

(Bloomberg) -- The Swiss franc rose to the highest level against the euro in more than six years Monday, amid broad declines in the common currency. It has rallied 0.8% against the common currency in the past month, the third-biggest gain among Group-of-10 peers. [Extracted from the article]