Swiss franc, Japanese yen Rise as DeepSeek News Boosts Safe Havens
FX
DeepSeek's new AI model spooked U.S. tech markets, triggering a classic risk-off rotation into safe-haven currencies with CHF and JPY both strengthening sharply against the dollar. The setup creates a near-term long CHF/USD and long JPY/USD trade as tech sentiment remains fragile and the unwind of crowded AI-long positions could extend risk aversion.
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Angle
↑ LONG+3% target-1% stop1-2 weeks, tactical
Long JPY/USD via FXY and CHF/USD via FXF as DeepSeek-driven risk-off extends; fade USD strength near-term into continued tech unwind.