Mohamed Aly El-Erian, chief economic adviser at Allianz. Comments on the US dollar.
Says the USD is almost back to its year's high
- Says this will confound those who thought that a more dovish Federal Reserve, combined with slowing growth would weaken it
And helpfully points out that the rest of the world is also slowing and loosening monetary policy, helping the USD along:
- fx lives in a relative not absolute price world
---
ps. the ECB meet this week (Thursday) expected to be dovish indeed
