T. Rowe Price's Husain: Where now for the US dollar?

Down against almost every major and emerging market currency year-to-date, the US dollar is having a torrid 2017 so far, writes Arif Husain, head of international fixed income at T. Rowe Price.

Almost all the factors that were expected to propel it higher have not played out, and we are now at the point where expectations that the Trump administration will deliver growth-boosting policies have reached an all-time low. At the same time, the persistence of weak inflation has diminished hopes for the Federal Reserve to deliver further interest rate hikes. It has almost been a perfect storm for the US dollar. With potential implications for US inflation and the broader global economy from sustained dollar weakness, the question now is whether this move has further to go. Room...