Dollar Bulls Practicing Art of Stealth Capitulation
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Strategists are cutting their forecasts on the dollar while still insisting the rally they’ve been denied all year is just around the corner.
Year-end predictions for the benchmark U.S. Dollar Index have dropped to 83.6 from 86.7 in January as the greenback defied estimates and weakened. The bulls remain optimistic, foreseeing an almost 5 percent advance in the index by year-end, while Barclays Plc declared it’s time for the currency to “shine.”