0617 GMT - The U.S. dollar may weaken against the yen and the Swiss franc as both currencies are undervalued and act as havens in periods of uncertainty, says Lombard Odier. The global wealth and asset manager sees USD/JPY and USD/CHF declining below its 12-month assumptions of 144 and 0.85, respectively. It expects the Swiss National Bank to cut interest rates to 0% to cushion some U.S. tariff effects on the economy. The Swiss franc's strength will be more limited than the Japanese yen if Switzerland's trade surplus declines following tariffs. Lombard Odier expects EUR/USD to remain in the 1.06-1.12 range this year, with the Fed likely to cut its policy rate to 3.75% and the European Central Bank potentially moving toward a terminal rate of 1.5% by end-2025. (monica.gupta@wsj.com)
(END) Dow Jones Newswires
April 08, 2025 02:17 ET (06:17 GMT)
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