The skyline of midtown Manhattan, New York, is seen from Hoboken, New Jersey, on May 7. The continuing fallout from the coronavirus may trigger a collapse in US growth and send US interest rates into negative territory, putting pressure on the dollar’s safe-haven status. Photo: AP The skyline of midtown Manhattan, New York, is seen from Hoboken, New Jersey, on May 7. The continuing fallout from the coronavirus may trigger a collapse in US growth and send US interest rates into negative territory, putting pressure on the dollar’s safe-haven status. Photo: AP
The skyline of midtown Manhattan, New York, is seen from Hoboken, New Jersey, on May 7. The continuing fallout from the coronavirus may trigger a collapse in US growth and send US interest rates into negative territory, putting pressure on the dollar’s safe-haven status. Photo: AP
David Brown
Opinion

Opinion

Macroscope by David Brown

The US dollar’s draw as a safe haven is likely to end when the coronavirus crisis does

  • For as long as the Covid-19 pandemic rages on, dollar dominion is not in doubt
  • But if US economic data continues to deteriorate and the Fed comes under pressure to adopt a negative rate, investors will look for better returns elsewhere at the first opportunity

The skyline of midtown Manhattan, New York, is seen from Hoboken, New Jersey, on May 7. The continuing fallout from the coronavirus may trigger a collapse in US growth and send US interest rates into negative territory, putting pressure on the dollar’s safe-haven status. Photo: AP The skyline of midtown Manhattan, New York, is seen from Hoboken, New Jersey, on May 7. The continuing fallout from the coronavirus may trigger a collapse in US growth and send US interest rates into negative territory, putting pressure on the dollar’s safe-haven status. Photo: AP
The skyline of midtown Manhattan, New York, is seen from Hoboken, New Jersey, on May 7. The continuing fallout from the coronavirus may trigger a collapse in US growth and send US interest rates into negative territory, putting pressure on the dollar’s safe-haven status. Photo: AP
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