Currency Strategist Sees Strength In US Dollar
On CNBC's "Street Signs Asia," Gareth Berry of Macquarie spoke about the U.S. dollar. He sees the weakness over the last few days as temporary and said he expects things to turn in the currency's favor by around mid-April.
Berry sees the news about the Fed's quantitative easing program as a driving force for the recent U.S. dollar weakness, but he expects things to get better in two weeks as the U.S. first-quarter earnings season starts.
A lot of bad news will come through at that point, with a lot of profit warnings, severe guidance downgrades and confirmation that bad debts are increasing, said Berry. He also expects to hear that buybacks have ended for now, and said there should be some dividend cuts too.
U.S. equities are in for a rough ride around mid-April, and the U.S. dollar is bound to benefit from that, concluded Berry.
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