JPMorgan Maps Out Currencies to Buy If Recession Is Coming
- Yen, Swiss franc, Singapore dollar and the greenback top picks
- Emerging market FX seen struggling; Kiwi worst G10 performer
This article is for subscribers only.
If a U.S. or global recession is looming, it’s time to own the Swiss franc, Singapore dollar, U.S. dollar and Japanese yen -- and ditch emerging market currencies, according to analysts from JPMorgan Chase & Co.
“Recessions are when creditors get to ask for their money back,” analysts including Paul Meggyesi said in a note dated July 6. “Three of the top four currencies to own during a recession are those of countries that boast extremely strong external positions.”