Economics
Dollar May Begin to Crumble Under Crude Oil's Downward Pressure
- ‘Growth shock to one of the US’s key growth industries’: TD
- Morgan Stanley’s Redeker says they’re adding to dollar shorts
Photographer: Andrew Harrer/Bloomberg
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The dollar’s 2018 rally may begin to see cracks as oil’s plunge signals a possible top.
For the most part, the greenback has weathered oil’s slump, in part due to a return of the dollar carry trade. But Mark McCormick at TD Securities says the U.S. currency may be at a peak since the U.S. economy could take a hit from oil’s abrupt slide to the lowest since last year.