The dollar keeps weakening. Is that good news for the world?
It all depends on the reasons for the greenback’s lack of fizz
AT THE start of 2017, just before Donald Trump was inaugurated as president, a survey of fund managers by Bank of America Merrill Lynch (BAML) found they believed that being positive on the dollar was “the most crowded trade”. It turned out they were right to be cautious. On a trade-weighted basis, the currency has fallen by 9% against other major currencies in the past year.
This article appeared in the Finance & economics section of the print edition under the headline “Buck loses its fizz”
Finance & economics February 3rd 2018
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