Here’s What it Would Take for the U.S. Dollar to Put in a Market Top

‘Premature’ to call for greenback to fall much lower, says ING

by William Watts
Market Watch

It was an ugly October for the formerly highflying U.S. dollar, selling off by around 2%, but it might be early to call for a top, or at least for a major slide, said one analyst.

“We think it a little premature to be calling the dollar a lot lower,” said Chris Turner, global head of strategy at ING, in a Thursday note.

[…] The dollar, of course, doesn’t trade in a vacuum. A weaker currency is a boon to U.S. exporters and other U.S.-based multinationals that do business overseas. It can also be a plus for emerging markets, cheapening the cost of servicing loans denominated in U.S. dollars.

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