A lack of confidence and the longer-term prospects are holding the dollar back

A lack of confidence in the U.S. stock market’s gains and the longer-term prospects for the world’s largest economy is holding the dollar back even as U.S. interest rates look set to rise further, according to Masashi Murata, a currency strategist at Brown Brothers Harriman & Co. in Tokyo.

The Bloomberg Dollar Spot Index has gained less than 0.6 percent this month even as the Fed raised rates and Congress passed a bill to cut taxes.

Source: Bloomberg Pro Terminal

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