Sell in May Even if Fed Eyes a June Hike?
Sell in May and go away turns out to be a good idea if you sell your other investments and buy greenbacks. A Bloomberg gauge of the dollar is on track to rise for a seventh straight May, as a parade of Federal Reserve officials including Chair Janet Yellen have hinted at higher U.S. interest rates as soon as their gathering on June 14-15. The yen and Australian dollar have been the biggest casualties among developed market currencies, with the Bank of Japan and Reserve Bank of Australia each having the opportunity to add to stimulus at policy meetings next month. World First Chief Economist Jeremy Cook discusses with Bloomberg's Nejra Cehic in London and Manus Cranny in Dubai on "Countdown."
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