The report details a low-volatility G10 FX environment where the author maintains a bullish USD bias against CHF and CAD, while monitoring JPY for intervention at the 160 level.
Key Takeaways
- 1.FX volatility remains at extreme lows, creating a range trader's paradise despite geopolitical noise.
- 2.The author remains bearish on CHF due to its low-yielding profile and expectations that the SNB will resist currency strength.
- 3.USD/JPY is testing the 160 level (MoF testing mode) with significant hedge fund selling of JPY observed.
Table of Contents
- G10 FX
- JPY
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Authors
Laoise Ni Thighearnaigh
Securities
USDCHFCADMXNUSDJPYAUDNZDEURHUF
Themes
US ExceptionalismGeopolitical Noise vs. Fundamental RealityCentral Bank Policy Divergence
Regions
North AmericaEuropeAsia PacificUnited StatesJapanSwitzerland