HSBC reflect on a game of two halves for the dollar
HSBC look at what’s been driving the dollar.
"Since the US election, the USD has been involved in a game of two halves – like the Super Bowl. The USD rallied hard from the US election to the end of 2016, on the belief that new policies would boost the currency. But 2017 has seen a USD reversal and a resurgence for many EM currencies. This has been driven both by a shift in rhetoric from the US administration and a growing belief in the global reflation trade.