Macquarie’s Daly Sees Further Downside for USD-JPY Trade

The transcript discusses the trends in the Swiss franc and the potential for further downside in the Dollar Yen, influenced by US Treasurys and BOJ policies. It explores the competition among safe haven assets like gold, yen, and Bitcoin, highlighting the volatility of Bitcoin and its limited role as a safe haven. The discussion emphasizes traditional safe havens like US Treasurys and the Swiss franc in the current financial market environment.

What is the expected trend for the dollar-yen exchange rate by the end of H1 2020?

• It will rise to 110

• It will fall to 100

• It will remain stable at 105

• It will rise to 120

Which asset is considered to have more upside in a global easing cycle?

• Bitcoin

• US Treasurys

• Gold

• Swiss franc

What is a potential hindrance to the gold price in a severe risk-off scenario?

• Strengthening of the dollar

• Decrease in US Treasury yields

• Weakening of the yen

• Increase in Bitcoin value

Why might Bitcoin not be considered a reliable safe haven asset?

• It has a stable value

• It is backed by governments

• It is widely accepted

• It is too volatile

Which traditional safe haven assets are expected to be prominent in uncertain financial markets?

• Bitcoin and Ethereum

• US Treasurys and Swiss franc

• Gold and Silver

• Real Estate and Commodities