“It’s easy to forget just how down the dollar is,” says Ian Campbell on Breakingviews. The dollar index, which tracks its performance against a basket of trading partners’ currencies, slid by 40% to a record low between 2001 and 2008. It hasn’t risen much since. But now we can expect a year of “broad US dollar strength”, says Morgan Stanley.
One reason for bullishness is the improving US data. The housing market is recovering and unemployment gradually falling, stimulating consumption, while the fiscal squeeze [...]
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