DrKW leads with bearish dollar view
CURRENCY FORECASTS
DrKW took the stance at the beginning of March when currency volatilities were at record lows. Fox said the bank viewed the levels as a prelude for a much more volatile period ahead.
"Back then, the US current account had fallen off most investors' radar screens despite having moved much deeper into deficit," Fox told FX Week. "In stark contrast, the concern of global policy-makers over ever-widening global imbalances was mounting – as demonstrated by the April 22 G-7 communiqué. We also saw the
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