Dollar’s smile makes Wall Street frown

In terms of the “dollar smile”, these are “bad” times. There is a growing sense in markets that the negative relationship between US stocks, the dollar, and yields could persist for months. — Reuters

THE “dollar smile” can be a blessing for Wall Street, or a curse.

Right now, with the dollar’s boom being driven by a destabilising surge in US bond yields, heightened uncertainty over global growth and rapidly deteriorating investor sentiment, it is definitely the latter.