Analysis – Dollar bears bide their time as U.S. economic strength persists
Yahoo!Finance-Reuters/Saqib Iqbal Ahmed/6-4-2023
“The dollar is ‘in a very messy transition from bull market to a bear market,’ said Aaron Hurd, senior portfolio manager, currency, at State Street Global Advisors. ‘That transition period is going to be fairly frustrating.’”
USAGOLD note: Hurd expects the dollar to hold up over the short term but decline steadily over the longer run. Gold has done well during extended bear markets for the dollar.
Gold and the US Dollar Index (DXY)
( Dollar index inverted)Chart courtesy of TradingEconomics.com • • • Click to enlarge
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