Wall Street's 2016 Currency Consensus Is All About the Dollar
- Fed liftoff will spur greenback, say Citigroup, Deutsche Bank
- U.S. currency is up 9 percent in 2015 on policy divergence
Time to Short the Dollar Ahead of the Fed?
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Buy the dollar. Again. That’s the message for next year from the biggest banks trading in the $5.3-trillion-a-day currency market.
Deutsche Bank AG, the world’s second-largest currency trader in Euromoney rankings, says the dollar’s rally has plenty of room to run -- another two years, and about 10 percent on a trade-weighted basis. JPMorgan Chase & Co. says the dollar will strengthen versus the currencies of New Zealand and Singapore, peaking in the second half of 2016. Goldman Sachs Group Inc., Barclays Plc and Credit Suisse Group AG are also bullish as the Federal Reserve moves toward raising interest rates for the first time in almost a decade.