Assessing Fair Value In FX Markets
公開日
We are introducing a new set of fair value models for currencies. On a cyclical basis, the dollar is expensive. However, this is not enough of a reason to expect an imminent fall in the greenback. The yen is extremely cheap, and its fair value is rising on the back of a positive terms-of-trade shock. The yuan is fairly valued. Most commodity currencies are not yet cheap.
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One macro framework for rates, FX, credit, and commodities, helping investors connect cross-market signals and position with clarity and conviction.
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