US dollar’s fifth losing month in a row

US stockmarkets might be performing well, but the same cannot be said for America’s currency. The US dollar index slid 2.9% last month, its fifth losing month in a row.

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US stockmarkets might be performing well, but the same cannot be said for America's currency. The US dollar index (which measures the dollar's value against a basket of the currencies of its main trading partners see chart) slid 2.9% last month, its fifth losing month in a row. That's its longest losing streak since 2011. It's a far cry from January, when the dollar index was sitting at a 14-year high. Then, notes John Authers in the Financial Times, an irritated Donald Trump bemoaned (via Twitter) the impact on US exporters.Since then, the president has got his wish: the trade-weighted dollar has dropped 10%, a change "as effective as a tariff" in terms of making imports more expensive, and US exports more competitive.

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James McAdam Stacey
James McAdam Stacey

James has previously written about financial markets for MoneyWeek. He has a bacherlors degree in management and he has been awarded an investment advice diploma by The Chartered Institute for Securities & Investment (The CISI). James then worked at Moran Stanley as a U.S. Equity Sales Analyst for two years, then moved into hedge fund sales and investor relations at 36 South Capital Advisors, and then became the Global Multi-Asset Sales at Credit Suisse. Now, James is the Associate Director of US Equity Sales at Oppenheimer & Co. Inc, where he is responsible for servicing a range of clients including asset managers, hedge funds and wealth managers.

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