The clock is ticking on the dollar’s long-enduring bull cycle.
After nine years of strength, the currency is being assailed from all sides. This year, the Federal Reserve joined other central banks in slashing interest rates to rock-bottom levels, wiping out the dollar’s advantage vis-à-vis the euro and yen. Ballooning debt and deficits have eroded foreign investment in the U.S. And trade-weighted measures suggest the dollar’s decline is overdue.
