Better spend that dollar in your pocket quickly, because it isn’t worth nearly as much as it was five months ago.  In a month where just about every other financial asset went up, the US Dollar couldn’t say the same in August.  The Bloomberg US Dollar Index fell for its fifth straight month and traded at its lowest level in more than two years in the process. It was only a few months ago that investors were seeking shelter in the dollar at the onset of the COVID outbreak in the US, but once the Fed flooded the system with liquidity and subsequently pivoted to a much more dovish stance, that rush into the dollar has shifted to an exodus out of it.  Earlier this month, the 100-day rate of change in the Bloomberg US Dollar Index (second chart) reached as low as negative 8.9% and still currently sits at -6.8%. Click here to view Bespoke’s premium membership options for our best research available.

Print Friendly, PDF & Email