FXF

Explore the recent and historical strength of the Swiss franc, as well as more recent actions by the Swiss National Bank that impact the strength of the Swiss currency.

How far should governments go to limit social interactions during a pandemic? Are lockdowns effective in combating COVID-19? These questions are being debated by governments across the globe, but Switzerland's

The greenback has fallen to a three-year low as markets across the board rally.

The parting gifts continue from Steven Mnuchin and company as the Treasury Department this morning formally slapped the "currency manipulator" label on Switzerland (Vietnam, as well).There won't be any punitive

Fitch Ratings affirms Switzerland's long-term foreign currency issuer default rating at AAA, the highest level of investment-grade rating.Outlook is stable.The ratings and outlook reflect "a diversified and high value-added economy

Large parts of Europe are locking down again, while other countries are trying to resist the approach.The U.K. has announced a one-month national lockdown starting Thursday - that will ensure

The Swiss franc has constantly been appreciating against the US dollar amid rising global uncertainty. Even though the Swiss franc performs positively in periods of rising price volatility, we think that there is more room for CHF depreciation in the near to medium term. The CHF is currently 26% overvalued against the USD according to PPP. Time to short FXF as we expect the US dollar to appreciate.

The USD has not responded to the rise in VIX in recent days, which has intrigued a lot of traders who have been buying the greenback as a hedge.The US dollar has been negatively correlated to equities in the past 2 years (especially in 2020); hence, lower equities should coincide with a rising dollar.We do remain bearish on the British pound as we still think that it is the most vulnerable currency in the current environment.