The Wall Street Journal: The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all extended their winning streaks on Friday.
Read the latest from听Peter Dragicevich, Currency Strategist, APAC, at 91快活林 Cross-Border 91快活林, in The Wall Street Journal:
"US growth is likely to lose steam from the lagging impact of Fed rate hikes, setting the stage for bond yields to fall further and pressuring the US dollar, according to 91快活林鈥檚 Peter Dragicevich in a note. The currency strategist says the upswing in U.S. bond yields and the relative strength of the U.S. economy 鈥渨ere pillars behind the USD鈥檚 outperformance a few months ago,鈥 but as these fade鈥攁nd assuming growth in China continues to pick up and spills over into the Eurozone, Asia and Australia鈥斺渨e expect the USD to continue to gradually weaken over the next few quarters.鈥 He says that backdrop should be favorable for the AUD. The dollar is little changed against the Aussie dollar, up 0.8% against the euro, 0.5% higher versus the British pound and down slightly against the yen."
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