Morgan Stanley, Pictet Asset Management, and other institutions bet on the Swiss franc to further pump, disregarding the market consensus.

Gold Ten Data, December 11th news. Prior to the meeting of the Central Bank of Switzerland this week, major banks and investors, including JPMorgan Chase, Citigroup, and Pictet Asset Management, are bullish on the Swiss franc, ignoring the market's general expectations of a softening Swiss franc. For these institutions, the escalating global trade tensions in the coming months will stimulate demand for safe-haven assets, and even if Swiss policymakers further cut interest rates, it will support the franc. JPMorgan Chase expects that by mid-2025, the Swiss franc will pump by about 5% against the euro, reaching 0.88, far higher than analysts' median forecast of 0.94 euros. Daniel Tobon, Citigroup's head of G10 currency forex strategy, said that the Swiss National Bank's extremely dovish attitude has not limited the outstanding performance of the Swiss franc, and there is no reason to see a reversal except for tactical trading. Luca Paolini, Chief Strategist at Pictet Asset Management, said that in an environment of increasing risks from global trade wars, weak European economy, and political divisions, the Swiss franc can be used as a safe haven.