The dollar has weakened relatively sharply in recent weeks, which is not surprising given the situation and does not cause me any great concern for the time being. Exchange rates usually balance out again to some extent over time. What makes me rather nervous, however, is that Trump could be aiming to weaken the dollar even further. The overarching aim of his current tariffs and policies is to balance the US import/export balance. A decisive factor in this would be a weaker dollar, which would make American goods cheaper abroad. I am therefore worried that the dollar will lose even more value against the euro over the next few years.
In view of the current situation, do you continue to buy ETFs in USD or are you very much at risk?
60% of my portfolio is concentrated in an MSCI World USD $XDWL (-5,71%) which I have been investing in for three years. This is currently still slightly up, but if it slips into negative territory next week at the latest, it might be a good time to switch into an MSCI World EUR without having to pay capital gains tax.
