eFXdata reports that Bank of America Global Research likes structural long USD/CHF exposure in 2021.

"We identify three key risks to the prevailing USD bearish view. 1- Cyclical weakness & risk aversion. 2- Inflation & potential rates shifts. 3- Positioning. While we are bearish USD as part of our base case, we believe it prudent to hedge this consensus view as part of an effective FX strategy. Long USD/CHF exposure through a lower-cost options structure with potentially high leverage provides investors with an effective hedge," BofA adds.