Short-horizon risk for safe-haven currencies continued its ascent in the week ending Aug. 16, 2019. The Swiss franc hit its highest level against the US dollar in almost 11 months on Monday, as trade-war and recession concerns weighed on the American currency. Though the greenback recovered later in the week, predicted volatility for the CHF/USD and USD/JPY exchange rates remained at 6-month highs of around 5.55% and 5.90%, respectively. The British pound, on the other hand, saw its short-horizon risk fall by 0.09% to 7.43%, despite dropping to a 1.5-year low against the USD on Wednesday.
Please refer to figure 6 of the current Multi-Asset Class Risk Monitor (dated August 16, 2019) for further details.