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Traders Pile on Strong US Dollar Bets While Bond Yields March Higher
At Goldman Sachs, strategists say the yen may slump to the lowest against the dollar since 1990. Talk of parity is stalking the euro. And across Wall Street, speculators are again piling into bets on the US currency after being burned by its unexpected rise. For all the uncertainty rattling stock and bond markets, there’s something of a consensus forming around the dollar: As long as the Federal Reserve is on track to keep interest rates elevated, it’s likely to drift even higher — at least through the rest of the year. The view reflects the growing cracks that are emerging in the global economy as the US shows ... (full story)