The dollarís relentless eight-day rally may find another gear as central banks around the world take heed after the Federal Reserveís dovish pivot. The greenback has gained every trading day since the Fedís Jan. 30 decision, when Chairman Jerome Powell said the case for further rate hikes has weakened. The Fedís shift, after it projected in December that two 2019 rate hikes were likely, inspired other global policy makers to dial back tightening expectations ó including the Reserve Bank of Australia and the Bank of England. As a result, BNP Paribas Asset Management changed course on the dollar, after calling for the currency to weaken over the course of 2019. The $646 billion money manager now expects that the greenback may gain 5 percent in the first half of the year as weakening global growth prevents other central banks from hiking.
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