Rates Rise, But Dollar Falls?

The expected reaction to a rate hike would be a rising dollar, yet that did not happen. Why would the dollar fall on global currency markets even though US interest rates are now more attractive than those of the euro, sterling and the yen? I’d suggest that the U.S. economy is not as strong as the good press it has received recently – and a key cause, in my view, is a still over-leveraged economy.Learn more about your ad choices. Visit megaphone.fm/adchoices