Dollar Pushes to New Highs

The Wall Street Journal reports that the dollar extended its powerful rally, spurring central banks in developing countries to take steps to stabilize their own currencies and threatening to create headwinds for the long-running U.S. expansion.

AUD/USD has been in a downward spiral since the Trump victory, and the dollar’s momentum could continue against risk currencies like the Australian dollar. With the Fed expected to raise rates in December, sentiment towards the greenback is very favorable.

There are also are reigniting fears that the dollar’s strength could slow U.S. corporate profit growth and intensify capital flight from the developing world, which would complicate the prospects for economic growth.

Read the full article in The Wall Street Journal.

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