Traders see no end to the dollar’s pain in 2018
“Despite a recent bounce back, analysts and investors say the greenback could lose more ground against the euro and yen as the prospect of strong economic growth and tighter monetary policy outside the U.S. more than offsets higher interest rates at home. The dollar is down more than 7 percent versus the world’s major currencies this year, the most in over a decade.
The economic growth ‘we’re seeing in Europe, emerging markets and the rest of the world will likely cause the dollar to sell off again,’ said Erin Browne, the head of asset allocation at UBS Asset Management, which oversees about $770 billion. When it comes to what central banks in Europe and Japan might do, ‘there’s very little priced in.’”