Mitsubishi UFJ: Yen and Swiss Franc Are the Worst-Performing G10 Currencies Since the U.S.-Iran Conflict Began

According to Jin10, Mitsubishi UFJ Bank analyst Lee Hardman said the low-yield yen and Swiss franc have been the two worst-performing G10 currencies since the U.S.-Iran conflict began in late February, and both continued to underperform this month. He said ongoing U.S.-Iran tensions have pushed oil prices higher, while negative energy price shocks and rising expectations of interest-rate hikes from the European Central Bank and the Federal Reserve have pressured the two currencies.