At the start of the global health crisis, the private sector flocked into dollars as a safe haven, but as central banks and governments took action, markets found a healthier appetite for risk and that demand has declined, Marc Chandler, chief market strategist at Bannockburn Global Forex, told Real Vision during today’s Daily Briefing.
Chandler said that dollar strength stood on two legs before the crisis: interest rate differentials and the growth differential. As the U.S. economy has worsened as a result of the pandemic, it has removed the first leg. Some sectors of the