The Swiss franc is now the second worst performer in early 2024 trading, the currency has fallen vs all G10 peers except the Japanese yen, it now trades down 6.4% YTD vs the dollar
Our in-house composite model continues to place the CHF among the bottom rankings. In line with 2024 actual FX performance, the latest update to the Cable FX Macro Composite Model leaves the yen and franc as first and second worst rankings
The franc’s low-yielding profile and negative momentum seem to be hurting the currency the most. In G10FX terms, the composite model explains 77% of YTD 2024 performance vs 53% seen in the momentum factor
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