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As US dollar rises, time to get bearish
In our previous commentary on the US dollar, we warned that a weak dollar was hiding significant risks in growth-sensitive assets such as equities and European currencies. As the world’s reserve currency, the buck is inversely correlated to most financial assets because most cross-border lending is conducted in dollars. Thanks to a slowdown in economic growth outside the United States coupled with accelerating US inflation, we have upgraded our USD outlook to neutral. Following recent strength, we expect to upgrade our longer term outlook to bullish in the near future. As US outperforms, rest of the world fails to ... (full story)
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- AnniLi
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