The big picture for small currencies: Prof. Dr. Tobias Straumann asks the question if the time has run out for the smaller currencies. Whenever the CHF appreciates sharply, the cry is soon raised for a fixed exchange rate or even for abandoning the currency altogether.
The risk of a US recession is still substantial: In the United States, ample evident risks to the economy are often brushed aside. But signs of significant cooling in the US economy have been apparent for several months now.
Monetary authorities as volatility drivers: Three of the ten biggest-ever one-day shifts in the EURUSD exchange rate occurred on days when the Fed or the ECB held meetings. It shows that central banks are often the trigger.
The USD declined further in May as vaccination and recovery momentum increased in other economies...» more