Mario Draghi Isn’t the Man to Push the Dollar Off a Cliff

Things have turned quite bleak for the dollar in the last couple of months: the hopes of a new age of strong U.S. growth and briskly rising interest rates have faded, a nuclear crisis with North Korea has emerged and the short-term outlook is set to be depressed by devastation from at least one hurricane.

Fortunately for the greenback, it can always rely on its friends in the world’s central banks, with the European Central Bank’s Mario Draghi front and center. Draghi did his level best...

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