As we enter the second half of 2025, markets face a renewed wave of uncertainty. Persistent policy ambiguity, escalating geopolitical tensions, and an evolving trade landscape are fueling macroeconomic volatility. In the U.S., weakening economic momentum paired with stubborn inflation may erode consumer strength and investor confidence. Meanwhile, the tariff environment has deteriorated more sharply than expected amplifying downside risks to growth and trade.

Against this backdrop, the narrative of U.S. exceptionalism is beginning to fade. Emerging market currencies are poised to outperform, supported by more accommodative policy stances abroad, a potential structural decline in the U.S. dollar, and signs of relative growth resilience outside the U.S. How will trade frictions, fiscal decisions, and geopolitical flashpoints shape the global outlook? What are the implications for currency markets, portfolio strategy, and investor positioning in the quarters ahead?

Join our all-star panel of seasoned market experts as they unpack key macro and…