After US-Japan Joint Intervention on Yen, Investors Turn to Swiss Franc for Carry Trades

The US-Japan intervention in the forex market has triggered a major reshuffle in carry trades, with the cost of shorting the yen surging and capital rapidly flowing toward the low-interest, low-volatility Swiss franc as an alternative. This rotation is not only reshaping global capital flows but has unexpectedly created a "win-win" scenario where Japan wants the yen to rise while Switzerland wants the franc to fall—a quiet but profound shift in the forex market as each side gets what it needs.