Currency Strategists Warn Renewed Dollar Optimism Won't Last
- Current rally driven mostly by trade tensions, protectionism
- Earlier weakness showed dollar “structurally vulnerable”: BNP
Photographer: Andrew Harrer/Bloomberg
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For steadfast dollar bears, a two-month uptick in the currency does not a trend make.
Despite a 5.8 percent advance since March for Intercontinental Exchange Inc.’s U.S. Dollar Index, long-term outlooks are trending downward once again, indicating many strategists aren’t buying the greenback’s recent rally. In fact, forecasts compiled by Bloomberg suggest the U.S. currency is set to decline by 11 percent through the end of 2019.