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Forecasters See Stronger Dollar

U.S. currency expected to gain European debt crisis weighs on global economy.

By Lukanyo Mnyanda and Catarina Saraiva, Bloomberg | Updated on April 23, 2012

There’s at least one thing that bulls and bears on the U.S. economy agree on: the dollar, the most undervalued major currency in the world, is due to rise as Europe’s sovereign debt crisis threatens the global recovery.

Strategists who as recently as November were predicting the dollar would depreciate against currencies of the Group of 10 nations, now say it will climb by year-end. After weakening against all but the Mexican peso among its 16 most actively traded peers over the past decade, it has gained against 13 of them since February.

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