After years of weakness, the U.S. currency may be at a turning point. Who would gain—and lose—from a greenback comeback?There's a growing sense among currency traders that the U.S. dollar might finally stop its long slide against other major currencies.
The euro almost hit $1.60, a record high against the dollar, on Apr. 22, the same day the dollar index—a measure of the greenback against a basket of major currencies—also showed record weakness.
But since then, the buck has been on a modest upswing. The euro traded at $1.54 on May 2, and the dollar index is 3% off its lows. "We think the dollar is carving out a bottom," says Meg Browne, senior currency strategist at Brown Brothers Harriman.
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