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Jeffrey Gundlach Says Dollar’s Next Move May Be Downward
The next move for the dollar may be weakening, which could bring relief to non-U.S. stocks such as those in emerging markets, according to Jeffrey Gundlach, chief investment officer of DoubleLine Capital. “I don’t think we’ll have new highs in the dollar without first seeing new moves to the downside,” Gundlach said in a webcast on Tuesday for his Total Return Bond Fund. “We’ll probably end with the dollar lower at year-end than it is right now.” Speculators on the long side may end up wrong, in part because President Donald Trump wants to see the greenback lower, the money manager said. A strong dollar ... (full story)