Market Extra: Why it may be downhill from here for the U.S. dollar

The U.S. dollar snapped its winning streak last week, slipping for the first time since its resurgence begun in April, leading some prominent analysts to declare the end of this newfound buck bounce.

“The market has hit the pause button on the dollar rally. This fits with our view that the recent surge was rooted in positioning and a reduction in the buck’s risk premium,” said Mark McCormick, North American head of FX strategy at TD Securities.

The U.S. dollar fell against all of its rivals in 2017 and began the current calendar year on the back foot. In April, however, it surged, notching three consecutive weekly gains.

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