King Dollar Defies the Doubters as the U.S. Provides Investors an ‘Oasis’
- Dollar is ‘place to park if you’re nervous’: Leuthold Group
- Rally is ‘more about currency weakness elsewhere’: TD
Photographer: Andrew Harrer/Bloomberg
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The dollar is defying predictions it would lose its currency crown in 2019.
A gauge of greenback strength compiled by Bloomberg climbed to its highest level this year as most major currencies lost ground against the dollar. U.S. data later this week are expected to show the world’s largest economy is humming along and the rally in the dollar comes as American stocks trade around record highs and investors pile into Treasuries. At the same time, the picture in other major developed economies from Europe and Canada to Australia is looking gloomier.