Bernanke says dollar's two-year rally is running out of steam


By Lananh Nguyen and Enda Curran
Bloomberg News
Wednesday, January 20, 2016

Ben S. Bernanke says the greenback may have peaked.

"Much of the appreciation in the dollar may have already happened -- we may not see much more," the former Federal Reserve Chairman said Tuesday at the Asian Financial Forum in Hong Kong. Further gains depend on the pace of the Fed's tightening cycle, he said. ...

Bernanke, who served as Fed chairman from 2006 to 2014, has written about the role of the dollar twice this month in a series of blog posts for the Brookings Institution. In a Jan. 7 post, he argued the "exorbitant privilege" that the U.S. gains from the dollar's status as a global reserve currency has been eroded by competition from other tenders, including the euro and yen, as well as America's shrinking share of the world economy.

In an earlier post, he challenged claims that the U.S. waged a "currency war" after the 2008 financial crisis by using monetary policy to weaken the dollar and gain advantage in global trade.

... For the remainder of the report:


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