Dollar Enigma: Why Are Bulls Losing Confidence With Fed Looming?
Job seekers attend a Princeton Area Chamber of Commerce job fair in Princeton, Illinois.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Even as the Federal Reserve may be weeks away from raising interest rates for the first time in almost a decade, currency forecasters are ratcheting back expectations for gains in the dollar.
Back in April, analysts were calling for the ICE U.S. Dollar Index to reach a 12-year high of 100.70 at year-end. Now they see it finishing 2015 at 98.60, according to the median estimate in a Bloomberg survey.