Swiss Franc Appreciation Not Done says Wall Street Investment Bank

The Swiss Franc is forecast to extend higher against the Euro and U.S. Dollar by analysts at private Swiss bank J. Safra Sarasin who have this week announced they are updating their Franc forecasts.

Global stock markets and 'risk on' currencies such as the Australian Dollar and South African Rand are recovering while those financial assets that do well in times of market anxiety - such as the Yen, Swiss franc and Gold - are on the way down.

The Swiss Franc is being touted as being the ultimate safe haven in the current virus-driven market sell-off which suggests further upside is likely if anxieties continue.

Swiss investment bank Julius Baer says they are upgrading their forecasts for the Swiss Franc, citing supportive economic fundamentals and a Swiss National Bank (SNB) that can afford to be more tolerant of the currencies relative strength.