Currency

Currency
January 2026

2026 Global FX Outlook: Different Dollar Downside

Goldman Sachs

Research

46 Pages

Goldman Sachs outlines why the US dollar may drift lower in 2026 as global growth and returns become more balanced.

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Global Macroeconomics
August 2025

The unstoppable dollar meets the immovable Mr Trump

Ninety One

Sahil Mahtani

Research

23 Pages

Ninety One assesses whether structural shifts—including rising twin deficits, fiscal unpredictability, global geopolitical rebalancing, and eroding U.S. rate advantages—could finally reverse a decades-long U.S. dollar up‑cycle.

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Global Macroeconomics
June 2025

Mapping the World’s Prices – 2025

Deutsche Bank

Jim Reid

Research

58 Pages

Deutsche Bank has a fun look at the world’s cheapest and most expensive cities, covering the quality of life, rental costs and prices for phones, coffee, taxis and more in 69 cities.

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Global Macroeconomics
June 2025

The US Dollar and Why International Stocks are Outperforming YTD

Johnson Financial Group

Drake Dorfner

Research

7 Pages

Johnson Financial Group explains that the US dollar’s sharp depreciation in 2025 has significantly boosted the relative performance of foreign equities for US investors, as currency effects can outweigh underlying stock movement.

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Global Macroeconomics
October 2022

35-Year Highs for the Dollar

GMO

Ben Inker

Research

10 Pages

GMO explains why an overvalued U.S. dollar can quietly drag on U.S. equities while boosting markets with cheaper currencies.

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