Five chart to start your day

The dollar is still King, for now...

Business was tough last year, not because I wasn't busy – I have never worked harder in all my life and business is really taking off for Eeagli. The problem for me has been the Swiss franc; it's too strong. Most of the revenue my company generates comes from North America and other parts of Europe, so I witnessed a substantial drop in revenue as the Swiss franc appreciated against the US dollar, Pound sterling, and the euro.

The upshot is that by allowing the Swiss franc to appreciate, which the Swiss National Bank (SNB) did, it kept inflation down. This is important because inflation really hurts the most vulnerable in society. By maintaining inflation at a moderate level with a stronger franc, albeit at the expense of some corporate revenues, the SNB managed to minimise the economic pain felt during this bout of global inflation.

So take a look at this data visualisation from Visual Capitalist; it resonated with me. I don't really have a relationship with the Mexican peso, so I can't express my opinion here. But I do have a relationship with the Swiss franc because I live in Switzerland, while Pound sterling, the euro and the US dollar are important for my business.

The dollar and euro hurt me the most last year. It's all relative, though. Although the pound and euro appreciated in 2023, they didn't versus the Swiss franc. It was a tough year.

Source: Visual Capitalist

Coming up:

• The US dollar has quietly outperformed expectations in 2024

• Germany’s industrial production versus Italy, since the euro

• J.P.Morgan now has a mountain of deposits

• Brazil’s government is the most heavily indebted in LatAm

If you like what you see here, and you would like to view the other four charts, consider becoming a paid subscriber. It costs less than two cups of coffee for a whole month’s access.