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World's No. 2 Currency Trader Sees Dollar Surge as Misery Wanes
When misery fades, the dollar rallies. That’s the contention of Deutsche Bank AG, the world’s second-biggest currency trader according to Euromoney magazine, which expects the greenback to resume its surge this year after slumping in February. The misery index, a measure of inflation and unemployment, fell in November to the lowest in almost six decades, underpinning the currency’s outlook. The jobless rate is forecast to hold at an eight-year low Friday as the Federal Reserve weighs the path of U.S. interest rates. “The misery index is not miserable,” said Alan Ruskin, the bank’s global co-head of ... (full story)
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