According to reports,UBSChen Yanfu, a stock analyst at the Office of the Director of Wealth Management and Investment, pointed out in a conference call that there is still room for major Asian currencies to appreciate in the next 3 to 6 months, mainly because the US dollar is expected to continue to weaken until the US Federal Reserve's monetary policy is determined to shift.

Despite the increase in the global economyNagawaInflation is at a high level, but US interest rates are expected to remain in the 0-0.25% range until the end of 2023. Inflation is expected to peak from May to June this year, and is unlikely to stay above 3% for a long time.

UBS said that the price of gold may remain at a high level in the short term. However, as the Federal Reserve changes its position, the US real interest rate recovers to 0%, and the US dollar may strengthen in the first half of next year, it is expected that the price of gold will fall to 1,600 US dollars/ounce in the next 12 months.

The agency believes that the stock market, which underperformed in the first half of 2021, has great potential to rise, particularly in China and Japan. Looking at similar stocks, stocks that are highly correlated with economic restart, such as energy, materials, finance, US small-cap stocks, and mid-cap stocks, all have plenty of room to rise.

UBS also said that the semiconductor shortage phenomenon will peak in the second or third quarter of this year, but full restoration of the balance between supply and demand is expected to take 2022 to 2023.