All of Wall Street Is Lining Up Behind the Dollar’s Historic Run
(Bloomberg) – The turbulence in global markets is throwing a lot of mixed signals, but there’s one that everyone is agreeing on: this is a very bullish time for the U.S. dollar.
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Goldman Sachs Group Inc., Morgan Stanley, JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp. and Societe Generale SA are all telling clients that as long as fear runs through markets, the U.S. currency will keep charging higher.
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“There’s no other alternative,” said Kit Juckes, chief FX strategist at Societe Generale. “If we get one big single bad event in the world, or a big big fall in equities, or a geopolitical event, the dollar will spike higher, so certainly nobody wants to be short of it.”
The clamor for the safest of safe havens, the Federal Reserve’s aggressive rate hikes and global shocks from the war in Ukraine and China lockdowns are all driving more cash into the dollar.
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https://finance.yahoo.com/news/wall-street-lining-behind-dol…