SocGen Research likes long AUD/USD and short EUR/CHF over the coming weerks.

 

"Long AUD/USD. Rate differentials remain strongly in support of the AUD, even as it is held back by its position as an importer of petroleum products. We have argued before, that once the crisis ends, the AUD will thrive, even if prices stay high, because it is a net energy exporter –availability of gasoline/kerosine , rather than the price alone," SocGen notes.

 

"Our final recommendation is to short EUR/CHF again, around here. A sharp widening in rate differentials, in the euro’s favour, has provided support for the cross, but in the past, this has been temporary. We see no reason to expect a different outcome this time," SocGen adds.