Currencies

Währungen · 21. Juli 2026

Umgang mit Devisenvolatilität

Der US-Dollar, der lange Zeit als sicherer Hafen galt, steht zunehmend unter Druck. Die jüngste US-Politik wirft Fragen zur Unabhängigkeit der Fed auf, treibt die Inflation in die Höhe und lässt die Staatsverschuldung weiter steigen. In diesem Umfeld bevorzugen wir Vermögenswerte, die nicht von staatlichen Institutionen ausgegeben werden.

Währungen · 14. Feb. 2024

Currency strength puts pressure on Swiss central bank

After a sluggish start, we see growth picking up and benign inflation. But a strong franc could convince the Swiss National Bank to cut rates twice this year.

Währungen · 20. Juli 2023

Currencies: US dollar

The US dollar may prove volatile in the coming months.

Währungen · 22. Dez. 2022

Our 2023 outlook for currencies

A volatile end to US dollar outperformance.

Währungen · 13. Juli 2022

Yen’s risk-reward profile becoming more attractive

How the interest-rate gap between the US and Japan evolves will likely remain the main determinant of the yen’s performance in the months ahead.

Währungen · 8. Juli 2022

The euro faces growing downside risks

Having already declined against the US dollar this year, we have lowered our forecasts for the single currency to take account of the fall-out from energy concerns.

Währungen · 27. Apr. 2022

The search for income in FX markets

Currencies from secured commodity producers like the Norwegian krone and Canadian dollar will play a part in the eventual solution for Europe’s energy independence from Russia. This goes with our 2022 Income repression continues investment theme around the search for income in a low-yielding environment as high-quality cyclical currencies can offer an attractive interest rate for holding them and can also provide portfolio diversification benefits.

Währungen · 16. Feb. 2022

Moderate Swiss franc depreciation is on the cards

A central bank in no hurry to raise rates could mean the Swiss franc loses some ground to the euro in the coming months.

Währungen · 1. Dez. 2021

Limited upside potential for the USD against the euro

The USD has risen significantly against the single currency since mid-year. But it may find it harder to make sustainable progress against the euro in the medium term.

Währungen · 2. Okt. 2018

Trade war is not the main reason to be blamed

Interview with César Pérez Ruiz, Chief Investment Officer, Pictet Wealth Management