Townsquare Media has completed a successful transformation but remains undervalued

The U.S. Federal Reserve will lower interest rates by 25 basis points at its next meeting in September. Or that, at least, is the consensus of the markets. According to the FedWatch tool from CMEGroup, the likelihood that the Fed will reduce the official range from 4.25-4.50% to 4.00-4.25% is around 90%.

Looking ahead to the second half of the year, and focusing on equities, which regions and sectors have shown the greatest strength?

Javier de Berenguer Viota, analyst and fund selector at MAPFRE Inversión, explores whether it's possible to anticipate movements in the U.S. dollar—and whether tools like currency hedging make sense in this context.