The story of 2005 was the dollar defying an overwhelmingly bearish consensus. The dollar has little to fear from a slowdown in U.S. consumption growth as this will eventually lead to an improved external trade position.
More Quotes from Steve Pearson:
Some of the risks associated with rate cuts have dissipated for sterling. We expect rates to remain on hold as the economic picture in the U.K. stabilizes.Steve Pearson
It's wrong to assume that the dollar will start to fall as the Fed stops raising rates. What we could see is a transition to a structural support for the dollar as the trade position improves.
Steve Pearson
It's possible that the deficit actually becomes a positive factor for the dollar as people see it narrowing. That will allow the dollar to rally even as growth in the U.S. slows down and the Fed stops raising rates.
Steve Pearson
It was almost a reflex reaction. If you have a good friend who can use your help, you just do it. It's all about coming to the aid of someone you care about deeply.
Steve Pearson
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