The dollar may have staged a short-lived comeback in July, climbing more than 3% after its worst first-half in decades, but its summer surge is quickly unraveling as stagflation fears resurface.
Through August 21, the U.S. Dollar Index — as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:UUP) — has dropped over 1% month-to-date, reigniting a broader downtrend that Bank of America now believes is here to stay.
