【英文】汇丰银行报告:全球外汇市场展望:新的世界秩序Currency Outlook:FX and trade wars

There are many methods for trying to derive the elusive fair value of an exchange rate. Chart 9 illustrates some of them, including HSBC’s Little Mac Index. The overall picture painted is that the USD, at current levels, is stronger than most measures of fair value. Perhaps with a degree of irony