Canadian Fund Cites Yen, Gold, Franc as Alternatives to USD

One of Canada’s biggest institutional investors is citing the Swiss franc, Japanese yen and gold as potential alternatives to the US dollar as President Donald Trump’s policies pressure the greenback.

The US dollar slid even as Treasury yields rose after Trump’s April 2 tariff announcements, potentially signaling that investors no longer view the currency as a safe haven, Investment Management Corp. of Ontario said Wednesday in its annual World View report. And the dollar’s recent performance reinforces the message that the US may no longer be a stable partner, according to the pension manager.