U.S. Dollar/Swiss Franc
During New York trading hours, U.S. dollar/Swiss franc loves U.S. bond prices, Swiss franc/U.S. dollar loves bond yields. The opposite holds for Swiss trading. Swiss franc/U.S. dollar is the confederate bond follower, U.S. dollar/Swiss franc the yield seeker. It is important to remember that the Swiss Central Bank much prefer the Swiss franc/U.S. dollar configuration. This principle is just like the U.S. dollar/Japanese yen example. The Swiss would much prefer to earn Swiss francs against the U.S. dollar. U.S. dollar/Swiss franc almost defeats the purpose for the Swiss due to their enormous trade with the United States.
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