Since the end of Bretton Woods in the early 1970s, the dollar has followed a long-term cycle with up- and down-trends lasting on average 7 years, notes Deutsche Bank. These USD cycles as illustrated in the chart below which is one of the main reasons behind DB's bullish USD view in 2014. "Even though the 2008 financial crisis extended the dollar downtrend that had started in 2002, especially against emerging market currencies, we remain comfortable with the long-term cycle view of the dollar," DB clarifies. "Indeed, the dollar trade-weighted index, however one measures it, appears to have toughed in 2011. So this ... (full story)