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The Dollar's Rise Over the Course of the Year
The dollar has risen quite extraordinarily over the course of this year, pretty much against all currencies. In an uncertain world that we're currently in, both economically in relation to growth and inflation, there is a tendency to seek safe havens. We don't see very big weakness emerging over the next year or so,. But over longer periods of time, we would expect to see some moderation in the dollar and some appreciation of these other currencies on a relative basis.