Currencies
Dollar Rides Wave of US Exceptionalism to Reign Supreme
- High yields, resilient economy create sweet spot for greenback
- Strong capital returns from risk assets support US currency
The greenback is just shy of the record it reached during the pandemic and on pace for its best year since 2020.
Photographer: Samsul Said/BloombergThis article is for subscribers only.
There’s a subtext to this year’s blistering rally in US risk assets: When it comes to the dollar, there is no alternative.
The greenback is just shy of the record it reached during the pandemic and on pace for its best year since 2020. As measured against the currencies of America’s largest trading partners, it’s a lofty 17% above its average over the last two decades.