Commerzbank: Iran conflict boosts G10 carry trade performance

He stated that trades where investors bet on the weakening of the Japanese yen and Swiss franc have performed well, and trades betting on the strengthening of the Australian dollar, Norwegian krone, and British pound have also performed solidly. He noted that as major commodity exporters, the Australian dollar and Norwegian krone have already appreciated, while the British pound rose due to market expectations shifting towards a rate hike by the Bank of England. The threat of currency intervention by the Swiss National Bank has weakened the Swiss franc, while rising oil prices have impacted the Japanese yen.