What the Swiss franc is telling us. The recovery of the euro last year gave the Swiss franc and the SNB some breathing room. This year, however, the tables have again turned. For the franc, it is not only developments with EURUSD that are crucial but also what happens in Europe. In our view, the CHF has more upside potential. Our conclusion of the Swiss franc.
The Fed’s “America First” strategy. Economic developments in Turkey and Argentina have caused quite a stir in recent weeks. But this turbulence has so far had no noticeable impact on developed economies. The US Federal Reserve will continue raising interest rates. Our commentary.
More than just a dollar story. The weakness in emerging market currencies has reached extreme levels of undervaluation. While “dollar strength” is typically cited as a reason why emerging market currencies are currently struggling, there is more to this story. Our observation of the development of various emerging market currencies.
Will the EUR stage a rebound this year, as it did in 2017? Perhaps, but USD weakness will not be eno...» more