George Magnus of UBS says we are going to see a big USD resurgence

George Magnus of UBS says we are going to see a big USD resurgence. After a torrid few years the US economy is showing signs of life again. The housing market, the epicentre of the financial crisis, is recovering and unemployment is falling. As a result the budget deficit is being steadily trimmed and in December the Federal Reserve decided to start scaling back its $85bn-a-month emergency asset-buying programme. Adding to the dollar's tailwinds, the development of shale reserves is crimping energy imports and narrowing the current account deficit. Some analysts are contemplating the prospect of a surplus thanks to an industrial renaissance fuelled by shale gas. Cumulatively these ingredients are enough to ensure a third great bull market for the US dollar. Read the full FT article: (VIEW LINK)

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