Welcome to EWM Insights where we focus and highlight HUMAN CAPITAL!

In this episode, we explore the forces that shape the value of money, starting with the one currency that quietly influences almost everything: the U.S. dollar.

From the prices you pay at the store to the way portfolios are positioned worldwide, the dollar is at the center of the global financial system. However, behind the scenes, currency markets are far less stable than most people realize—nearly 90% of activity is driven not by trade, but by speculation.

We are joined by Peter Boardman, Portfolio Manager and Managing Director at Nuveen Asset Management. During our discussion, we break down what truly moves currencies, from interest rates and inflation expectations to geopolitical stability, and why these factors matter more than headlines.

We also examine the relationship between oil prices and the dollar, and what that connection means for global growth, inflation, and investment strategy.

Our goal is simple: to bring clarity to a complex system so you can better understand how currency movements shape the world around you and the decisions you make within it

Additional Notes and resources have been attached below.

Feel free to share this episode with those in your circle who are on a similar path of learning.

We hope our conversations will help you acquire more knowledge, become even more curious about the gifts that are in and all around us, while supporting you to reach new heights as we grow together.

You can subscribe and listen to EWM INSIGHTS on Spotify, Apple Podcasts, Amazon Music, or the Ellis Wealth Management Homepage: https://elliswealthmanagement.net/podcasts/

Above all, through EWM INSIGHTS we want to encourage you to:

INVEST IN WHAT YOU LOVE!®

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Takeaways:

• The value of a currency is primarily influenced by a country's economic situation, including interest rates and political stability.
• A significant portion of currency transactions is driven by speculation rather than fundamental economic activities like trade.
• The US dollar remains the dominant currency in global trade, accounting for a substantial percentage of foreign exchange transactions.
• Higher interest rates in the US attract foreign capital, thereby strengthening the dollar compared to other currencies.
• Commodities such as oil and gold are predominantly priced in US dollars, which impacts inflation and economic growth globally.
• Investors should consider the implications of currency fluctuations on their portfolios, particularly with regard to international assets.

Links referenced in this episode:

• www.elliswealthmanagement.com
• www.nuveen.com
• www.cnbc.com
• www.nikkei.com
• www.greenwichassociates.com

Peter Boardman manages the Nuveen International Value Strategy Fund focused on finding opportunities in non US equity markets.