Forex Flash: Money being driven out of JPY and CHF safe havens – Societe Generale

Sebastien Galy, Senior FX Strategist at Societe Generale believe that the outcome of existing market pressures is seeing the drive of money out of safe havens, with CHF and JPY weakening core European curves under pressure and peripheral ones outperforming even after a mixed Italian auction. He comments, “Riksbank stayed on hold driving some expectations of a cut and EURSEK lower with it.”