The world will welcome the dollar’s coming slide

The dollar looks likely to suffer an extended bout of weakness. — Reuters

THE dollar has lost some of its lustre over the winter. The twin supports of its status as the preferred haven during the pandemic and being backed by the world’s strongest economy are fading.

And now another prop for the greenback is wobbling amid doubts about how much higher the Federal Reserve (Fed) will raise US interest rates, as it has second thoughts on the likelihood of a recession.