The US dollar has fallen by close to 10% in trade-weighted terms from the 20-year peak that we saw last October.
The US dollar has the upper hand at the moment with other currencies hit by what can be called a double whammy.
The risk aversion remains high in many financial markets, and that continues to suggest a firmer dollar.
The dollar usually rises when risk aversion soars. Numerous emerging market crises, the global financial crisis and, most recently, the pandemic have all proved this...
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