📝Swiss Franc Could Be In For Catch-Up Weakening If Le Pen Fails To Secure Win: Saxo Bank

The Swiss franc's depreciation Tuesday suggests rising global yields are finally making their mark on the currency. The franc's recent strength despite rising yields and Switzerland joining other countries in sanctioning Russia suggests there is some residual safe-haven seeking in the currency, some of it possibly linked to the French presidential election.  If far-right candidate Marine Le Pen fails to secure a victory in the French election Sunday and yields continue to rise globally, the franc could be in for some catch-up weakening. - Saxo Bank FX Strategist