It’s cheap and just about every investor is short the currency. That makes the dollar a screaming buy for Allianz Global Investors.
The fund, one of Europe’s biggest, is betting against the trend on conviction that a turnaround is in the cards. Buying the greenback versus a basket of currencies including the euro and the Canadian dollar is one of Allianz’s strongest trades, now that gains following the election of Donald Trump as U.S. President in 2016 have reversed.
