The Swiss franc, the U.S. dollar and even the euro might be the best options for investors trading currencies in the face of rising threats from North Korea, analysts told CNBC.

“The CHF (Swiss franc) along with the JPY (Japanese Yen) are widely considered the usual safe-haven currencies. However, given geographical proximately I would expect the JPY to be most sensitive to issues regarding North Korea,” Jane Foley, head of forex strategy at Rabobank, told CNBC Wednesday.

In fact, the Swiss franc rose 1 percent against the dollar on Wednesday morning, as investors looked for safe options after North Korea said it was “carefully examining” a plan to strike Guam, where a U.S. military base is located.

Timothy Graf, head of macro strategy at State Street Global Markets, also cautioned against potential impacts on the Japanese currency, but he still believed it is probably the first option when searching for safety.

Facebook Comments