Watching the Global Flows Explains Why the Dollar Won't Be Kept Down
- Exante’s analysis shows greenback favored buy in carry trade
- Currency buoyant even as Fed pivots on policy, Trump complains
Photographer: Mladen Antonov/AFP via Getty Images
This article is for subscribers only.
The dollar’s resilience after what some have categorized as the most dovish Federal Reserve turnaround in history comes as little surprise to Exante Data’s Jens Nordvig.
U.S. President Donald Trump may be looking to jawbone the greenback. But for Exante, it’s still all about the grab for yield, with rates on dollar-denominated assets remaining more attractive relative to the painfully low or negative ones found in Europe and Asia. The firm’s analysis of the holdings of global asset managers suggests that isn’t going to change anytime soon.