About this work
Dollar performance against advanced and emerging currencies told different stories in August 2020. Jonathan Fortun and Robin Brooks contrast relative stability against the G10 with appreciation against emerging markets exposed to weaker commodity prices. The absence of a Chinese stimulus comparable to 2009 underpinned their view that a sustained dollar decline was unlikely in the near term.
Abstract
Dollar performance against advanced and emerging currencies told different stories in August 2020. Jonathan Fortun and Robin Brooks contrast relative stability against the G10 with appreciation against emerging markets exposed to weaker commodity prices. The absence of a Chinese stimulus comparable to 2009 underpinned their view that a sustained dollar decline was unlikely in the near term.
Cite this work
Jonathan Fortun, Robin Brooks (2020). GMV: Is the Dollar Entering a Secular Decline?. Institute of International Finance.