2023 Currency Rankings: CHF Emerges Strongest, JPY Weakest ...Middle East

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2023 Currency Rankings: CHF Emerges Strongest, JPY Weakest
source : forex live ( Middle East ) () 19
As 2023, comes to an end, the CHF is ending the day as the strongest of the major currencies while the JPY is the weakest. The CHF benefitted from flight to safety flows on the US banking crisis and global tensions, and then took a late year nose dive from around USDCHF 0.9100 to 0.8332 after the SNB continued to sell foreign currencies in an effort to dampen imported inflation. The USDCHF fell -8.94% on the year (stronger CHF). The EURCHF fell -6.10% (higher CHF). The CHFJPY saw the CHF strengthen by 18.2% - the biggest moving currency for the trading year.The JPY was the weakest. One need only look to central bank policy as the Bank of Japan kept rates steady in 2023 while the other cent

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