HSBC Joins JPMorgan Saying Dollar Party Over After Fed Surprise
This article is for subscribers only.
Two of Wall Street’s biggest proponents of the dollar say its rally may be finished.
HSBC Holdings Plc said this week marks the beginning of the end of the currency’s ascent, after Federal Reserve officials on Wednesday cut their interest-rate forecasts, bringing the greenback’s 20 percent surge since August to a halt. The Bloomberg Dollar Spot Index slumped 1.8 percent Wednesday, the biggest drop in six years, before recovering some of its losses Thursday.