The Dollar Is Only Going To Go Up, Says The World’s No. 2 Currency Trader
The greenback’s longest rally since January is just the beginning, says the world’s second-largest currency trader.
Deutsche Bank expects the dollar’s three-week rally to continue, saying it’s a better time to invest in US currency than currency from emerging markets like China, Mexico and South Korea, Bloomberg reports.
One reason behind the dollar’s surge is the Fed’s recent hint of a possible rate increase in June, which is helping propel the dollar to its seven-week high. The dollar is up 0.8% to $1.1224/euro and it jumped 1.4% against the yen, according to the Bloomberg Dollar Spot Index. [Bloomberg]