CHF/JPY

Fundamentals favour the Japanese Yen by 33 points.

On the Macro Currency Strength Meter, the Swiss Franc scores -52 and the Japanese Yen scores -19 — a gap of 33 points in favour of the Japanese Yen. The widest divergence is in interest rates, which favours the Japanese Yen. All else equal that gap is a fundamental tailwind for the Japanese Yen against the Swiss Franc — though markets may already have priced much of it in.