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The “Dollar Smile” Will Zip From One Side to the Other, Jen Says

Iran Bazaar Sees Rush to Dump Rial as Sanctions Hurt Economy
Photographer: Ali Mohammadi/Bloomberg

The emerging crowd of dollar detractors will soon have their comeuppance, when U.S. economic outperformance sees the greenback rebound, according to veteran market participant Stephen Jen.

Jen, who runs hedge fund and advisory firm Eurizon SLJ Capital in London, also rebuffed the recent argument made by his former Morgan Stanley colleague Stephen Roach that the dollar was heading for a “crash.” Roach, now based at Yale University, forecast a 35% drop in the dollar.