Purchasing Power Parity and TEEER Chart Book

A quarterly chart book from UBS CIO FX Research providing current spot rates versus Purchasing Power Parity (PPP) and trend-extrapolated equilibrium values (TEEER).

Key Takeaways

• 1.The report provides updated Purchasing Power Parity (PPP) and Trend-Extrapolated Equilibrium Exchange Rate (TEEER) values for major currency pairs as of May 29, 2026.
• 2.Significant valuation gaps exist in major pairs, notably USDJPY, where the actual spot rate of 156 is substantially above the PPP level of 91.
• 3.The TEEER serves as a three-year projection of PPP trends, assuming that long-term inflation differentials remain stable over time.

Table of Contents

• Latest PPP and TEEER values
• Majors: EURUSD
• Majors: USDJPY
• Majors: EURJPY
• USD Pairs: GBPUSD
• USD Pairs: USDCHF
• USD Pairs: USDSEK
• USD Pairs: USDNOK
• USD Pairs: USDCAD
• USD Pairs: AUDUSD
• USD Pairs: NZDUSD
• EUR Pairs: EURGBP
• EUR Pairs: EURCHF
• EUR Pairs: EURSEK
• EUR Pairs: EURNOK
• EUR Pairs: EURAUD
• EUR Pairs: EURNZD
• CHF Pairs: GBPCHF
• CHF Pairs: CHFJPY
• CHF Pairs: AUDCHF
• CHF Pairs: NZDCHF
• CHF Pairs: CADCHF
• CHF Pairs: CHFNOK
• CHF Pairs: CHFSEK
• Remarks
• Global asset class preferences definitions
• Appendix
• Risk information

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