“Remember those 14-year highs” in the dollar index? “No, nor does anyone else,” says Katie Martin in the Financial Times. Soggy inflation in the US has put back the expected timetable of further US interest-rate hikes, and Donald Trump’s inability to get anything done has also tempered enthusiasm for the greenback. The talk of the forex market is now the euro. It has climbed to a two-year peak against the US dollar. The euro index, which tracks it against a basket of trading partners’ currencies, is also at a two-year high.
Could the [...]