UBS: Asset management companies are buying Swiss francs at the fastest pace in a decade.

The Swiss franc against the US dollar exchange rate is currently at its strongest level since the decoupling of the euro in 2015. According to UBS Group, one of the reasons for this is the large-scale buying of Swiss francs by asset management companies, which could also be a reason for this situation to continue. UBS, using its own trading volume data, stated that the cumulative amount of franc purchases by asset management companies since the beginning of the year has reached its highest level in 10 years of its dataset. They mentioned that this aligns with their conversations with clients about increasing hedging of US asset foreign exchange.