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It’s ‘Foolish’ to Fight Dollar Dominance as Rally Picks Up Speed

  • Surge in US currency has sent global peers tumbling this week
  • Hawkish Fed bets, fear of recession driving dollar demand
Updated on

When Nick Twidale reaches his desk in Bridge Street each morning, in the heart of Sydney’s financial district, he’s greeted by a seemingly endless slew of dollar buy orders.

“It’s the easiest trade in FX,” said Twidale, a 25-year markets veteran and Asia Pacific chief executive at broker FP Markets. “Until there’s a dramatic shift in fundamentals and rhetoric with the Fed, you’d definitely be foolish to sell the dollar when the whole world is so nervous.”