Massive move: US dollar breaks down against the Swiss franc to the lowest since 2015 ...Middle East

The is a rush into safe haven assets today with the Swiss franc leading the FX market. This looks like a recession trade and a bet on rate cuts and economic pain in light of the US tariff war.

The broader implication might be that if the US wants to weaponize the US dollar and destroy international norms, then there are better places to park money. This might create a deflationary problem for Switzerland though and rates are already at 0.25 and likely to be cut to zero.

Maybe we haven't left the era of negative rates after all?

This article was written by Adam Button at www.forexlive.com.

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