The Japanese yen and the Swiss franc are increasingly sought out by investors as “safe havens” thanks to last month’s events. In particular, the most recent statement by US President D. Trump was another boost to the value of these currencies.
None of the investors did not expect that Trump is going to impose tariffs on Mexican imports and will unleash trade disputes on the next front. Mexico is a major trading partner for the US.
The Swiss franc rose against the dollar by 0.69 percent and the USD / CHF currency pair traded at 1,0008, approaching its peak of 10 April this year. At the end of the week, this currency pair traded at 0.9975.
The value of the Japanese yen rose 1.11 percent to the dollar, and the USD / JPN pair traded at 108.41. The euro only strengthened by 0.75 percent. During May, the Japanese yen appreciated to the dollar by 3.15 percent, to the euro by a total of 2.72 percent. This is the only way to confirm its role as the safest currency in times of geopolitical crises.