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JPMorganChase

June 12, 2026

G10 FX Daily Report

Daily UpdateFXCommoditiesEnergyOther

The report highlights a shift toward risk-on sentiment following Middle East de-escalation, while maintaining a cautious stance on USD ahead of the upcoming Fed meeting.

Key Takeaways

  • 1.Geopolitical de-escalation in the Middle East has reduced USD length, but traders remain cautious ahead of the upcoming Fed meeting.
  • 2.Short CHF positioning is preferred heading into the weekend due to the upcoming population vote.

Table of Contents

  • G10 FX
  • JPY
  • CHF
  • Country Specific Disclosures

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Authors

Matt Pheasant

Securities

USDJPYEURNOK

Themes

Geopolitical De-escalationCentral Bank Policy

Regions

EuropeMiddle EastUnited StatesUKJapan