Dollar current sound footing could be fleeting as long term forces stack against it

Financial Times/ Michael Mackenzie/10-30-2020

“‘Regardless of the election outcome, the dollar has entered a cycle of relative decline,’ observes Marc Chandler, chief strategist at Bannockburn Global Forex. ‘The old meme of twin deficits is coming back. The dollar becomes a shock absorber for the economy by weakening.”’

USAGOLD note: Chandler’s reference to the “old meme” of trade and fiscal deficits is an interesting one. Later in this article Mackenzie quotes a Deutsche Bank strategist as identifying gold as one choice among a group of alternatives for global money managers.

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