QCAM Insight After the selloff in 2020, the USD started firmer in 2021 amid increased financial market volatility. Several factors support the USD at the moment but it is unclear whether this is a temporary correction or the start of a prolonged period of USD strength as in 2018.

The deployment of Corona vaccines is widely expected to reflate the global economy in 2021. The big risk is that the vaccination campaign disappoints.

The business cycle is an important exchange rate driver. At QCAM we have been using business surveys for many years to systematically capture the link between business cycles and exchange rate trends. This rule-based approach is now available as a total return alpha strategy via a UBS certificate. QCAM FX BIAS is diversified over 8 major currencies and delivers attractive returns at moderate volatility

QCAM Insight The outcome of the US election was [...]