Flash: CHF/JPY at a thirty year mark - UBS

FXstreet.com (Córdoba) - The CHF/JPY reached on Friday a thirty year high of 116.70. The same level was traded 23 years ago and higher levels have not been seen for the last thirty years, notes the UBS analyst team.

Key Quotes

"Abenomics, an unusual strong demand for CHF and a well-supported euro are the longer term drivers for that record".

"Near term drivers are year-end trades and investors trying to position for the best trends in 2014".

"We think JPY/CHF (CHF/JPY) has room to run further, marking an unmatched 30 year low (high)".