Safe-haven currencies: when do the yen and franc actually rally?

The yen and Swiss franc are the classic havens: when fear rises, money flows in. But havens don't rally on every bad headline, and in recent years interest rate differences have overpowered the haven effect.

Share what you've observed:

• a recent risk event, and which currencies actually moved
• whether you trade haven pairs when fear spikes
• how you distinguish haven flows from rate-driven moves

The safe-haven guide covers the theory and the real-world exceptions.