Markets Pressure Yen and Swiss Franc as Energy Prices Rise, ING Says

According to Jin10, ING analyst Chris Turner said rising energy prices may keep pressure on the low-yielding yen and Swiss franc as markets reprice other central banks' rate-hike expectations. He added that despite higher energy prices, equities have remained relatively resilient, which may weaken the yen and franc's appeal as safe-haven currencies. Turner also said the more important factor appears to be low interest rates and the slow pace of central bank rate hikes. The dollar fell 0.2% against the yen to 162.90 after touching a 40-year high of 163.23 on Tuesday, while the dollar fell 0.1% against the Swiss franc to 0.8118 after reaching an overnight one-week high of 0.8133.