A lot has changed since the last edition of The Swiss View. Urs Droese and Jess Roberson look at the continuing uncertainty around the Strait of Hormuz and what developments there could mean for oil prices, currencies, gold, and investor sentiment.

The discussion also turns to the Japanese yen carry trade, Japan's relationship with U.S. Treasury markets, and the recent strength of the U.S. dollar. They consider whether current currency movements represent a lasting shift or a temporary reaction to geopolitical and economic uncertainty.

Watch the full episode to hear their perspective on the U.S. dollar, Swiss franc, Japanese yen, gold, central banks, and the broader global market environment.

Recorded August 12, 2026. This content is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any security.