Currency traders favor Swiss franc amid rising yen volatility

Traders in the currency market are entering a phase of shifting towards the Swiss franc as a primary funding source in the short term, avoiding the risks associated with the Japanese yen. This is due to the increased volatility of the yen resulting from government interventions and efforts to raise Japanese interest rates, which reduce its attractiveness as a funding currency. Meanwhile, the Swiss franc remains one of the favored currencies due to its relative stability and its interest rate close to zero, as well as Swiss central bank interventions to curb its appreciation. This has led to higher borrowing and investment yields compared to the yen, especially as hedge funds prefer to use it as a safer funding source.

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