Dollar weakness replaced by dollar strength but how long will it last?

One of the main themes in April was the resurgence of the US dollar with the Bloomberg dollar index rising by almost 3 per cent since the start of last month and almost erasing all its 2018 declines.

It has also helped the dollar buck a seasonal pattern that often sees it lose ground in the month of April, every year since 2010. This dollar strength has not only been seen against major currencies such as the euro, Japanese yen and sterling but it has been across the board taking in gains against emerging market currencies like the Turkish lira and Argentine peso. The resumption of dollar strength is a particular concern to regional companies already facing headwinds from higher interest rates, cuts in oil production and geopolitical tensions.

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