DB's view is that they remain very bullish on the Swiss franc:
target a move down to the low 0.80s in USD/CHF
DB argue:
- the Swiss franc ... has the highest beta to US front-end rates in G10 and the lowest beta to risk
- So as long as you believe the peak in Fed Funds is approaching, like we do, it should be one of the most efficient dollar shorts irrespective of the view on equities.
