FXstreet.com (Barcelona) - According to Sebastien Galy, currency strategist at Societe Generale, long USDCHF "is a good smart bet one can brand as macro hedging" the analyst says.

Sebastien expands: "Long USDCHF is the large risky exposure for foreign banks in Switzerland. Local asset managers seem reluctant to short the CHF vs EUR with its status as the last safe haven. I may not know when EURCHF will overshoot 1.30 before settling down but is my view for the year. A better trade, however, is to combine outright view long USD and CHF as two dislocation trades."