Currencies Insights
Currencies · 21 Jul 2026
Navigating FX volatility
The US dollar, long seen as a safe haven, is facing new pressures. Recent US policies have raised questions about the Federal Reserve’s independence, pushed inflation higher and expanded government debt. In this climate, we favour assets that governments cannot print.
Currencies · 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.
Currencies · 20 Jul 2023
Currencies: US dollar
The US dollar may prove volatile in the coming months.
Currencies · 22 Dec 2022
Our 2023 outlook for currencies
A volatile end to US dollar outperformance.
Currencies · 04 Oct 2022
US dollar entering extreme territory
But short-term outlook for the US dollar remains positive.
Currencies · 13 Jul 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.
Currencies · 08 Jul 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.
Currencies · 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.
Currencies · 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.
Currencies · 01 Dec 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.
Currencies · 02 Oct 2018
Trade war is not the main reason to be blamed
Interview with César Pérez Ruiz, Chief Investment Officer, Pictet Wealth Management
