The New FX Winners: AUD, NOK & LatAm Currencies In A Multipolar World

🔔Weekly Newsletter👉

Today’s video dives into the shifting fault lines of global FX and what they reveal about a rapidly changing world economy.

We start with Australia: rising AUD inflation and fresh warnings from the IMF about downside risks, policy credibility, and what persistent price pressures could mean for the RBA and the currency. Then we move to Norway, where NOK strength and a notable shift from Norges Bank are reshaping the outlook for one of the world’s key oil-linked currencies and sending important signals to other small, open economies.

From there, we zoom in on Switzerland and the possibility that the SNB could move back toward negative rates, why that would be such a radical step after years of normalization, and what it would mean for safe-haven flows and European FX more broadly.

We also look at why Latin American currencies have been quietly outperforming, what is driving that resilience (carry, commodities, reforms), and whether it can last in a more volatile macro regime.

Finally, we tie it all together with the bigger picture: an increasingly multipolar world intensified by war and geopolitical fragmentation, where currency blocs, regional alliances, and competing monetary frameworks matter more than ever. This isn’t a simple bullish or bearish story; each move has winners and losers, trade-offs and second-order effects.

If you want to understand how inflation, central banks, and geopolitics are colliding to redraw the FX map, this episode is for you.

0:00 Australian Dollar Bullcase (AUD)
5:40 Europe
8:00 FED Goes Hawkish
10:30 LatAm Currencies Bid Risk-On
15:00 Norway Multifaceted Strength (USDNOK)
19:00 Safe Haven Crossroads? (USDCHF)

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