The Mighty U.S. Dollar No Longer?
In the U.S., the S&P 500 is now trading over 60% higher from the bottom reached in March. For we Canadians, this return looks more impressive than it really is: the U.S. dollar fell 20% against the Canadian dollar in that time. Similarly, the U.S. currency is weak against the Yen- and the Euro. A massive U.S. dollar "carry trade" may be in the works, or maybe not.
It remains to be seen.
Rosenberg vs. CNBC